What are the reasons the 3 big banks failed, and PacWest is looking shaky?Īs the Federal Reserve tightened monetary policy and raised interest rates to fight inflation, the value of long-term assets − such as mortgage-backed securities and U.S. So what’s next for the banking industry, and how does it affect consumers? called off their planned merger on Thursday, citing uncertainties around regulatory approvals. Meanwhile, TD Bank Group and First Horizon Corp. Another regional bank, Western Alliance Bancorp., gained 44.8% Friday but its loss for the week was 29%. While the company's stock price soared 85.2% Friday, its shares were still down 42.2% for the week. The bank has said it had not experienced a high number of customer withdrawals, but the news still stoked fears of a potential surge in withdrawals among regional banks. Shares of San Francisco-based PacWest Bancorp plunged this week after investors learned the regional bank was considering a sale. said they thought the worst of the banking crisis was coming to a close.īut the markets are showing investors are still wary. When First Republic Bank collapsed earlier this week, some bankers like the head of JPMorgan Chase & Co. Watch Video: First Republic Bank collapse draws concern.
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