Current unrealized losses in the US banking system is -$1.8 trillion out of only $2.2 trillion capital

With corporate taxes due Sep 15 & possible gov shutdown Oct 2, the general public has no idea the banks are already insolvent entering a nightmare liquidity scenario in October.

#Economy #US #BankingCrisis #Politics

https://nitter.42l.fr/FinanceLancelot/status/1696657731539869970

Shares in Germany's biggest lender #DeutscheBank dropped more than 10 percent on Friday as the cost of insurance against the risk of default surged, fuelling fears about a #BankingCrisis

#Exonomy #Europe

https://www.barrons.com/news/deutsche-bank-shares-plummet-as-cost-of-default-cover-rises-491128f8

Credit Suisse Collapse Burns Saudi Investors

Some of kingdom’s officials harbored doubts about a $1.5 billion investment in bank before crown prince signed off

"The Saudi investment is almost wiped out after Credit Suisse’s emergency merger with UBS Group AG. Credit Suisse’s meltdown also erased billions of dollars in investments made by Qatar’s sovereign fund and the Saudi-based Olayan family.”

#BankingCrisis #SaudiArabia #CreditSuisse #Economy
https://www.wsj.com/articles/credit-suisse-collapse-burns-saudi-investors-3f096a07

Credit Suisse Collapse Burns Saudi Investors

Saudi Crown Prince Mohammed bin Salman last year directed government-backed Saudi National Bank to make a $1.5 billion investment in Credit Suisse that his financial advisers harbored doubts about.