In addition to SVB and Silvergate, last weekend another American bank - New York-based Signature Bank closed. The U.S. Treasury and the Fed announced support measures for depositors of the latter and SVB - they were promised access to their deposits in full, writes Forbes. However, investors, who invested in the collapsed banks, according to the head of the country, Joe Biden, will lose their money, reports "Prime".
Former Assistant Secretary of the Treasury (during the Reagan presidency) Paul Craig Roberts said that the Fed would have to stop the aggressive rate increases that are destabilizing the banking sector. He called the U.S. banking system unsafe, with its five largest banks at risk of losing two times the world's GDP.
Traders' confidence in the Fed's raising the rate by 50 bps at the end of the meeting scheduled for March 22, which had previously risen to 70%, has now been virtually reduced to zero, as futures show, and Goldman Sachs does not expect it to rise now at all.