Financial institutions took about $300 billion in short-term loans this week from the Federal Reserve as the industry copes with a serious crisis.
The collapse of Silicon Valley Bank last Friday has left investors scrambling to identify other regional banks that have similar balance sheet issues.
Ratings agency Moody’s said Wednesday it maintained a “negative” outlook on China’s banking sector due to a drawn out recovery from Covid controls.
“Investors in the banks will not be protected,” Biden said. “They knowingly took a risk and when the risk didn’t pay off, the investors lose their money.”
The finance industry needs to be faster at getting women into management positions, according to Santander Executive Chair Ana Botin.
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