Wall Street Giants Expect $8.9 Billion Hit From Bank Failures

Bloomberg

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Individual: Michael Bloomberg

Private Equity: The Vanguard Group

Wall Street Giants Expect $8.9 Billion Hit From Bank Failures

The biggest US lenders expect to pay almost $8.9 billion to help replenish the US government’s bedrock Deposit Insurance Fund after it was tapped to backstop uninsured depositors at Silicon Valley Bank and Signature Bank.