The banking crisis in America is far from over, as leading ratings agencies continue to flag big banks citing funding risks. Moody’s has downgraded several banks this week while issuing warnings over potential downgrades for more.
On Aug. 8, it was reported that credit rating agency Moody’s had downgraded ten small to mid-sized U.S. banks.
US Banking Crisis Deepens
The downgraded banks were Commerce Bancshares, BOK Financial Corporation, M&T Bank Corporation, Old National Bancorp, and Prosperity Bancshares. Furthermore, Amarillo National Bancorp, Webster Financial Corporation, Fulton Financial Corporation, Pinnacle Financial Partners, and Associated Banc-Corp were downgraded.
In addition to the ten banks that dropped a rank, six banking giants were flagged for potential downgrades. These included Bank of New York Mellon, US Bancorp, State Street, and Truist Financial, according to Reuters.
Additionally, the credit rating…
