Bank Crisis is just getting started…

722 banks reported unrealised losses exceeding 50% of their capital.

Source: https://www.federalreserve.gov/supervisionreg/files/board-briefing-on-impact-of-rising-interest-rates-and-supervisory-approach-20230214.pdf

Impact of Rising Rates on Certain Banks and Supervisory Approach

S&R Quarterly Presentation February 14, 2023