The recent takeover of First Republic Bank, the fourth U.S. bank to fail this year, has awakened concerns about the possible repercussions this new failure might have on U.S. and international economies. While United States President Joe Biden has assured the public that the banking system remains safe, analysts are warning that this might not be the last bank failure in this period of turmoil.
First Republic Bank Collapse Shows the Weaknesses of the US Banking System, Say Analysts
The recent collapse of First Republic Bank, the second-biggest bank failure in the history of the U.S., has set off the alarm bells of analysts regarding the possible repercussions that this might have on the economy of the country. While President Joe Biden has assured that the banking system is safe, some believe the fourth bank failure in a year might show that the U.S. banking system has systemic weaknesses.
An anonymous investment manager at a Beijing bank told Global Times that this new collapse will l
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