The two largest banks in the US say they expect to lose a collective $4.5 billion from customers who are essentially unable to pay their bills.
  • phdepressed@sh.itjust.works
    0·
    7 months ago

    BoA and Chase are both above the limit that they have to have a decent chunk of actual non-invested cash. Trump increased the limit of when that is necessary and i haven’t heard of Biden dropping it back down. Lack of cash reserves is an important part of why a number of small-mid size banks were capable of failing.