Finance

Moody’s Puts First Republic, Five US Banks on Downgrade Watch

Western Alliance, Comerica among banks with ratings on review
US bank stocks pummeled after collapse of Silicon Valley Bank

WATCH: Unrealized losses among US lenders have been growing rapidly under the Fed’s aggressive rate-hike regime, even before the Silicon Valley Bank’s collapse. David Ingles reports.Source: Bloomberg

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By Russell Ward

March 14, 2023 at 4:26 AM UTC

This article is for subscribers only.

Moody’s Investors Service placed First Republic Bank and five other US lenders on review for downgrade, the latest sign of concern over the health of regional financial firms following the collapse of Silicon Valley Bank.

Western Alliance Bancorp., Intrust Financial Corp., UMB Financial Corp., Zions Bancorp. and Comerica Inc. were the other lenders put on review by Moody’s. The credit rating company cited concerns over the lenders’ reliance on uninsured deposit funding and unrealized losses in their asset portfolios.