New York CNN —Some of the very first signs of banking stress in the crisis that unfolded last year were reflected in Silicon Valley Bank, Signature Bank and First Republic Bank’s nosediving share prices.
That’s a considerably larger share compared to Signature Bank and Silicon Valley Bank shortly before their demises.
So far, there’s no evidence that the bank is at risk of failingAs scary as it may be to see a bank’s stock price plunging, it’s not the best gauge for the bank’s viability.
The best source of information on that front is a bank’s deposit flows, Chiaverini said.
As of last quarter, deposits were down just 2% and declined even less excluding the custodial deposits connected to the acquisition of Signature Bank.
Persons:
Bank’s, Thomas Cangemi, David Chiaverini, it’s, Chiaverini, NYCB, Janet Yellen, ” Yellen
Organizations:
New, New York CNN, Silicon Valley Bank, Signature Bank, First, New York Community Bancorp, Moody’s Investors Service, Wedbush Securities, ”, Silicon Valley, Bank of America, Financial Services, Federal Deposit Insurance Corporation
Locations:
New York, Silicon Valley