“The Federal Deposit Insurance Corporation said shortly before Silicon Valley Bank’s collapse that the market value of U.S. banks’ long-term assets had dropped $620 billion in 2022. New research co-authored by Columbia Business School’s professor of real estate Tomasz Piskorski finds that the banking industry’s unrealized losses are now more than three times that, with the system accumulating $2.2 trillion in unrealized losses over the past year.”
USAGOLD note: A troubling update on the upside-down reality in the banking system – 190 “precarious” banks and $2.2 trillion in potential losses.
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