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The Cracked Ball

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What is Going on in the Banking Industry? Thumbnail

What is Going on in the Banking Industry?

To minimize risk to the financial system and reinforce confidence in the banking system, the Federal Reserve, Department of Treasury and FDIC announced all deposit accounts at SVB and Signature Bank are insured (accounts above the $250,000 FDIC guarantee ceiling). Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks. In theory, taxpayers aren’t on the hook. Essentially the program and government actions are designed to mitigate banks’ balance sheet risk and prevent contagion.

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Winter 2023 Newsletter Thumbnail

Winter 2023 Newsletter

There’s no way to sugarcoat it, 2022 was a difficult year for investors. The Dow Jones Industrial Average and S&P 500 peaked as the year the began and ended the year down 8.8% and 19.4% respectively with the tech heavy NASDAQ losing 33.1%.

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