New York CNN —S&P Global Ratings downgraded five regional US banks by one notch and signaled a negative outlook for several others on Monday.
Following the banking turmoil earlier this year that began with Silicon Valley Bank’s collapse, many regional banks have had to pay higher interest rates on deposits to keep customers from pulling their funds.
And even still, many regional banks have struggled to prevent deposit outflows.
Overall, 90% of the banks S&P rates have stable outlooks.
The remaining 10% have negative outlooks and none have positive outlooks, S&P said Monday.
Persons:
New York CNN —, Moody’s
Organizations:
New, New York CNN, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $
Locations:
New York, Silicon