A credit "contraction is invariably coming," Soros Fund Management chief executive officer Dawn Fitzpatrick said at this week's Bloomberg Invest conference, adding that additional banks will fail because "there are more problems under the surface."
One further source of trouble for the industry will be commercial real estate, an area that in recent years smaller and regional banks have become a bigger force in.
Working from home has cut into office values and almost $1.5 trillion of commercial property debt is due for repayment before the end of 2025. Meanwhile, rising interest rates have made many properties less valuable.
Diese Geschichte stammt aus der June 12, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der June 12, 2023-Ausgabe von Mint Mumbai.
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