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The Federal Deposit Insurance Corporation (FDIC) has reported that 63 American banks are on the brink of insolvency. This alarming situation is due to $517 billion in unrealized losses, primarily from residential real estate exposure. The number of problem banks has increased from 52 to 63 in the first quarter of 2024. The unrealized losses have surged by $39 billion from the previous quarter. Despite no immediate risk, the FDIC's warning highlights significant vulnerabilities in the U.S. banking system.
🚨FDIC: $517,000,000,000 Unrealized US Banking Losses “Unrealized losses on available-for-sale and held-to-maturity securities increased by $39 billion to $517 billion in the first quarter. Higher unrealized losses on residential mortgage-backed securities, resulting from… https://t.co/2BVCq8almB
US Banking Sector Teeters: $517B Unrealized Losses, 63 Troubled Institutions Flagged — #economics #finance https://t.co/BtBIVBJY3T
FDIC just reported that 63 banks are on the brink of insolvent collapse https://t.co/lF2ew4fleV