us banking crisis, Us Banking Crisis: Credit Suisse and Silicon Valley are a tableau… another bank of America on the verge of drowning – us banking crisis: after silicon valley bank and credit suisse another bank on bad phase

New Delhi: The US Banking Crisis is not taking its name to end. American banks facing financial crisis are getting into trouble one after the other. The American banking crisis that started with the sinking of Silicon Valley Bank has now reached the next phase. Now another bank is in trouble. Now the First Republic Bank of America is going through a difficult time. At the close of business on Friday, there was a tremendous decline in the shares of the bank. In one fell swoop, the bank’s shares fell by 30 per cent. CNBC has written about the condition of First Republic Bank in its report.

bank of america in trouble

According to a CNBC report, in view of the condition of First Republic Bank, the Federal Deposit Insurance Corporation (FDIC), the company that insures the money of America’s bank customers, may put one of its receivers in the bank. After this news came, the shares of the bank suddenly fell by 30 percent. So far the value of the bank’s shares has fallen by 50 per cent. The situation became such that trading in shares had to be stopped several times.

Big fall in bank shares

There has been a stir among the bank’s investors. The atmosphere of uncertainty among investors has further increased. First Republic Bank’s stock has reached its lowest level of $ 3.09. There has been a huge fall of 30 per cent in the shares of the bank. Half of the market value of the bank is gone. Although the bank also got the help of the government before this. First Republic Bank’s market value has fallen by $21 billion so far this year. Looking at the financial condition of the bank, an attempt was made to save it earlier also. To save the American bank, the group of banks together deposited about $ 30 billion, but even after this help, the health of the bank is not showing any improvement.

Even after government help, there was no major improvement in the financial condition of First Republic Bank. The bank is looking for funding to save itself, but has not been successful so far. The bank is looking at the option of retrenchment to reduce its expenses. According to the news agency AP, by the end of the year, the bank can leave its 7200 employees. Not only this, to save itself, the bank is looking for the option of selling the loan and mortgaged property given at a lower interest rate.

Significantly, the banking crisis in America started after the collapse of the Silicon Valley bank. After this, the matter of deteriorating condition of Signature Bank came to the fore. America’s banking crisis did not stop there. It reached Switzerland. Credit Suisse Bank of Switzerland also reached a difficult situation.
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