WSJ Analysis Shows Bank of America, Huntington National Bank Had Among Biggest Revisions to Uninsured; Analysis Finds Banks Lowered Stated Uninsured Deposits After SVB Collapse
Portfolio Pulse from Bill Haddad
An analysis by the Wall Street Journal has found that Bank of America and Huntington National Bank were among the banks that made the largest revisions to their uninsured deposits following the collapse of SVB. The FDIC has issued a warning to U.S. banks about deposit accounting.
July 24, 2023 | 7:58 pm
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Bank of America was found to have made significant revisions to its uninsured deposits following the collapse of SVB, which could potentially impact investor confidence.
The news that Bank of America was among the banks that made the largest revisions to their uninsured deposits following the collapse of SVB could potentially impact investor confidence in the bank. This could lead to a short-term negative impact on the bank's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80