Fed Says Banks Showed Over $100B In Losses From Commercial Real Estate And Residential Mortgages And $120B In Credit Card Losses; Both Up From 2022
Portfolio Pulse from Benzinga Newsdesk
The Federal Reserve has reported that banks have shown over $100 billion in losses from commercial real estate and residential mortgages, and $120 billion in credit card losses. These figures are an increase from those reported in 2022.
June 28, 2023 | 8:33 pm
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NEGATIVE IMPACT
The SPDR S&P Regional Banking ETF (KRE) could be negatively impacted by the reported losses in commercial real estate, residential mortgages, and credit card losses.
KRE, being an ETF that tracks regional banking sector, is likely to be negatively impacted by the reported losses. Banks' profitability is directly affected by these losses, which could lead to a decrease in the value of the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience a slight negative impact due to the reported losses, as the financial sector is a significant part of the S&P 500.
SPY, which tracks the S&P 500, may be slightly negatively impacted as the financial sector is a significant part of the index. The reported losses could affect the profitability of the financial sector, thereby affecting the value of the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
The Financial Select Sector SPDR Fund (XLF) could be negatively impacted by the reported losses in commercial real estate, residential mortgages, and credit card losses.
XLF, being an ETF that tracks the financial sector, is likely to be negatively impacted by the reported losses. Banks' profitability is directly affected by these losses, which could lead to a decrease in the value of the ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90