Major banks are preparing for potentially huge losses because of mounting consumer and commercial debt, according to Business Insider, and the Financial Stability Board has cautioned that banks could still be vulnerable to the issues behind the bank failures of the last two years.
“There is a weak tail of banks that combines funding vulnerabilities and unrealized losses on their portfolio holdings, similar to what was observed for some of the banks that were involved in the March 2023 turmoil.”
—Financial Stability Board report, October 23, 2024
What do these risks mean for your savings?
Click on the video link below for exclusive exective insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- MarketWatch: “There are still banks prone to the runs that brought down SVB and Credit Suisse, regulators warn”
- Business Insider: “Big banks are bracing for losses as Americans struggle to pay off debt”
- Bloomberg: “Gold Demand Tops $100 Billion as Western Investors Charge In”
Enhance your portfolio with precious metals today.
Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. Now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
