Moody’s cuts outlook on U.S. banking system to negative, citing ‘rapidly deteriorating operating environment’

CNBC/Jeff Cox/3-14-2023

“In a harsh blow to an already-reeling sector, Moody’s Investors Service on Monday cut its view on the entire banking system to negative from stable.”

USAGOLD note: The same problem that brought down SVB – an underwater bond portfolio – is present in a large swathe of the banking industry making this bank crisis much different than anything that preceded it. Moody’s is right to sound the general alarm.