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Smaller Banks’ Critical Role in Economy Means Distress Raises Recession Risks
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Main Street businesses and American families are likely to find it harder to get a loan because of turmoil in the banking industry, denting economic growth and raising the risk of a recession.“The risk in terms of the spark from SVB is real,” said Greg Daco, chief economist at EY-Parthenon, a strategy consulting unit of Ernst & Young LLP.
The collapse of Silicon Valley Bank set off fear among depositors that led to the failure of Signature Bank and the move to rescue First Republic Bank .
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US midsize banks seek FDIC Insurance on 'all deposits' for 2 years: Report cointelegraph.com /2 days ago
More 186 US banks well-positioned for collapse, SVB analysis reveals cointelegraph.com /3 days ago
UK ‘will be only G20 economy apart from Russia to shrink this year’ theguardian.com /4 days ago
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