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Regional lenders such as PacWest and Western Alliance are not seen as systemically important and more consolidation is ahead
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Scooped by
Graham Watson
May 5, 2023 1:44 AM
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Scoop.it!
Francis Phillip's curator insight,
May 5, 2023 9:11 PM
The fact that the European Banking system is doing well suggests there will not be another financial crisis like the one in 2008.
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Larry Elliott thinks that the threat to PacWest and Western Alliance don't represent a systemic threat to the US banking system, and that there's no cause for concern as yet, and thus no need for the Federal Reserve to intervene.
The fact of the matter is that the US still has 4,000 banks - that's more than 80 per state - and it's just likely that we're seeing a period of consolidation in the sector.