Regional bank earnings may expose critical weaknesses, according to Sheila Bair, former chair of the U.S. Federal Deposit Insurance Corp.Their quarterly numbers begin hitting Wall Street this week.
Bair, who ran the FDIC during the 2008 financial crisis, is nervous that regional bank issues from 2023 aren't fully resolved.
"This is still a problem for the regional banks, and fingers crossed that there's [not] another failure.
The SPDR S&P Regional Bank ETF (KRE) is down almost 13%, and only four of its members are positive for 2024.
Her latest regional bank warning comes as the benchmark 10-year Treasury note yield topped 4.6% this week and hit its highest level since November 2023.
Persons:
Sheila Bair, I'm, Bair, CNBC's, aren't, We're
Organizations:
U.S . Federal Deposit Insurance Corp, P Regional Bank ETF, New York Community Bancorp, Metropolitan Bank Holding Corp, Kearny Financial, Columbia Banking, National Bancorp
Locations:
New York