Romeo Full Staff

Contagion of the Banking Crisis: Are Central Banks Panicking?


Contagion of the Banking Crisis PUBLISHED BY LAURENT MAUREL | MAR 21, 2023 Are central banks panicking? The Fed’s surprise intervention on the weekend of March 11-12 to try to stop the contagion linked to the SVB bankruptcy was not enough to stop the global run on bank deposits. A single chart explains the current contagion: US banks are sitting on more than $700 billion of losses on their bond portfolios. The losses are purely accounting, as these products are intended to be held until maturity. But the regional bank failures are forcing the realization of these losses and pose an immediate concern for the…

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