$512,900,000,000 in Unrealized Losses Hit US Banks As Number of ‘Problem Banks’ Rises To 66: FDIC
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The FDIC reports a rise in US banks facing significant issues, with the number on its "Problem Bank List" increasing from 63 to 66 in Q2 2024. This marks the fifth consecutive quarterly rise. The report highlights $900 million in unrealized losses on securities, a slight decrease from the previous quarter. FDIC chairman Martin Gruenberg acknowledges the resilience of the banking industry but warns that risks persist, recalling the impact of last year's Silicon Valley Bank collapse.
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