Moody's Cuts Outlook on US Banking System To Negative From Stable
Following the closure of Silicon Valley Bank, and Signature Bank, Moody’s Investors Service cuts the US Banking system outlook from stable to negative. Moreover, Moody’s cited a “rapidly deteriorating operating environment,” as justification for the decision. CNBC reported on the firm’s outlook on the US financial sector. Specifically citing the prominent failures over the past week and subsequent action taken by regulators to aid depositors affected by the developing crisis. JUST IN: Moody's cuts outlook on US banking system to negative from stable, citing "rapidly deteriorating operating environment." — Watcher.Guru (@WatcherGuru) March 14, 2023 Moody’s Grim Prognosis Following SVB Failure It was the largest banking failure since the 2008 financial crisis, and it caught every off guard. The collapse of SVB Financial, and Signature Bank has provided the rightful concern of those within the industry and has driven experts to consider the health of the se...