US banks are sitting on $517bn in unrealized losses 😳

The FDIC has identified 63 problem banks in the US. This marks a significant increase in financial stress, doubling from 30 in the previous quarter.

Banks' unrealized losses have risen significantly to $517 billion. These losses are attributed to the impact of rising interest rates.

If banks need to raise cash quickly, they could face a big problem because the value of the mortgage-backed securities they hold has fallen after the Fed raised interest rates 📈

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