CNN: losing assets in US banking system total $620 billion

According to the American television channel CNN, the volume of unrealized unprofitable assets in the US banking system is 620 billion dollars. This is reported by the Telegram channel “Militarist” with reference to a source.

The bankruptcy of Silikon Valley Bank last week caused a panic attack among investors. The bankrupt bank showed critical problems associated with the banking sector. Accordingly, there is a gap between the real value of bonds in the market and the amounts attributed to them by influential creditors.

“SVB’s fall was partly due to the fall in the value of the bonds it bought during the boom, when the bank had a lot of customer deposits and needed somewhere to store cash,” the channel notes.

SVB is not the only bank that has failed. At the end of 2022, U.S. banks had unrealized loss-making assets of $620 billion, according to the Federal Deposit Insurance Corporation.

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CNN: losing assets in US banking system total $620 billion