Moody's cuts credit ratings of ten US banks and warns six more could face a similar fate

[DrQ]

Moody's cuts credit ratings of ten US banks and warns six more could face a similar fate - but firm insists 'US banking system is NOT broken'​

• Moody's cut credit ratings of several small to mid-sized US banks this week
• Ratings agency warned it may downgrade some of the nation's biggest lenders
• Dow dropped 150 points as some of the biggest bank stocks fell on the news

Moody's cuts credit ratings of 10 banks and warns of more downgrades

Ten regional banks have had their credit ratings slashed by risk assessment firm Moody's - which warned it was considering downgrading a further six.

www.dailymail.co.uk

 

[DrQ]

Big US banks are reportedly trying to dump commercial real estate loans - but buyers are scarce as pressures mount for property markets​

• Big banks are trying to dump commercial real estate loans as pressures mount in the sector.
• JPMorgan, Goldman Sachs, and Capital One are among those trying to shed debt exposure, sources told Bloomberg.
• Some banks are having trouble securing buyers, and have been holding onto loans as they search for a deal.

Big US banks are reportedly trying to dump commercial real estate loans - but buyers are scarce as pressures mount for property markets

A slew of big banks are trying to shed commercial property debt as troubles brew in the sector, Bloomberg reported.

markets.businessinsider.com

 

[Ralph Sir Edward]

Big US banks are reportedly trying to dump commercial real estate loans - but buyers are scarce as pressures mount for property markets​

• Big banks are trying to dump commercial real estate loans as pressures mount in the sector.
• JPMorgan, Goldman Sachs, and Capital One are among those trying to shed debt exposure, sources told Bloomberg.
• Some banks are having trouble securing buyers, and have been holding onto loans as they search for a deal.

Big US banks are reportedly trying to dump commercial real estate loans - but buyers are scarce as pressures mount for property markets

A slew of big banks are trying to shed commercial property debt as troubles brew in the sector, Bloomberg reported.

markets.businessinsider.com

It's hard to find a sucker when you need one. . . .

 

[MULTIZ321]

The ten banks that were downgraded, all by one notch were: Commerce Bancshares, BOK Financial Corporation, M&T Bank Corporation, Old National Bancorp, Prosperity Bancshares, Amarillo National Bancorp Incorporated, Webster Financial Corporation, Fulton Financial Corporation, Pinnacle Financial Partners and Associated Banc-Corp
Under review are major lenders Bank of New York
Mellon, US Bancorp, State Street and Truist Financial, Cullen/Frost Bankers and Northern Trust.
Moody's also assigned a negative outlook to 11 further banks, including major institutions PNC, Capital One and Citizens Financial


Richard

 

[DrQ]

The ten banks that were downgraded, all by one notch were: Commerce Bancshares, BOK Financial Corporation, M&T Bank Corporation, Old National Bancorp, Prosperity Bancshares, Amarillo National Bancorp Incorporated, Webster Financial Corporation, Fulton Financial Corporation, Pinnacle Financial Partners and Associated Banc-Corp
Under review are major lenders Bank of New York
Mellon, US Bancorp, State Street and Truist Financial, Cullen/Frost Bankers and Northern Trust.
Moody's also assigned a negative outlook to 11 further banks, including major institutions PNC, Capital One and Citizens Financial


Richard

We used to bank at Old National Bank (now Old National Bancorp) when we lived in Illinois.

 

[DrQ]

Moody's Downgrades 10 Banks: Here's What Investors Need to Know​

Earlier this year struggles at SVB Financial's Silicon Valley Bank and Signature Bank had investors and depositors concerned about the state of the industry. Since then, a couple of other banks have gone down, including the second-largest bank failure ever at First Republic Bank.​

​

While things seem to have calmed down, the risks aren't gone. That's according to Moody's, one of the largest credit raters in the world. On Aug. 7, Moody's downgraded 10 banks and put several others on notice. The ratings firm cited growing financial strains that could hurt these banks' profitability. Read on to see the 10 impacted banks, along with why Moody's decided to downgrade them.​

MSN

 

[Ralph Sir Edward]

Moody's may not be the only one.

https://www.cnbc.com/2023/08/15/fitch-warns-it-may-be-forced-to-downgrade-dozens-of-banks.html

 

[DrQ]

Moody's may not be the only one.

https://www.cnbc.com/2023/08/15/fitch-warns-it-may-be-forced-to-downgrade-dozens-of-banks.html

Yeah, I saw that item.

 

[Tia]

Moody's may not be the only one.

https://www.cnbc.com/2023/08/15/fitch-warns-it-may-be-forced-to-downgrade-dozens-of-banks.html

Wow. Not good news is it...

 

[rapmarks]

We used to bank at Old National Bank (now Old National Bancorp) when we lived in Illinois.

I used to bank at Mchenry State Bank which sold to a first Midwest which sold to old national bank. Have about twenty automated payments going in, don’t live in Illinois, but don’t want to switch