In the Asian session on Monday (May 8), the latest price of the U.S. dollar index was 101.26, and the opening price was 101.23. From Silicon Valley Bank to Signature Bank, and then to First Republic Bank, in less than two months, three banks “collapsed”. Calculated in terms of total assets, the total assets of the three banks mentioned above are nearly US$550 billion, far exceeding the total assets of the 25 failed banks during the 2008 financial crisis.
Alliance West is also considering several options, including an asset sale. Although the bank immediately refuted the rumors and said that the bank has sufficient liquidity and no unusual deposit outflows, the stock still closed down nearly 40% on Thursday. At this time, Federal Reserve Chairman Powell insisted that “the U.S. banking system is healthy and resilient.” Mohamed El-Erian, Allianz’s chief economic adviser, directly ridiculed that Powell’s remarks may eventually damage the credibility of the Fed.
