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Bank of America continues to be under pressure! FDIC: Q1 losses increased to $517 billion, and the number of problem banks rose to 63.
According to the first quarter report of FDIC, the banking system of Bank of America has a total of 517 billion US dollars in unrealized losses and there are 63 "problem banks".
Profits in the US banking sector soared as large banks got rid of the costs of bankrupt banks
US banking profits surged 79.5% to $642 billion in the first quarter of 2024, mainly because large banks did not bear the multi-billion dollar special fees that were required to pay last spring to cover losses caused by bank failures.
Federal Reserve Chairman Powell says the banking system can withstand commercial real estate risks
Some US officials believe that the increase in non-performing loans in commercial real estate may cause some banks to go out of business, but it will not pose a risk to the entire system. Federal Reserve Chairman Jerome Powell agreed.
Veritex | 10-Q: Quarterly report
FDIC reforms give bank savers less protection
New rules implemented last month limit the Federal Deposit Insurance Corporation (FDIC) to insure trust accounts at $1.25 million.
Veritex (VBTX) Gets a Buy From KBW
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