Moody's Cuts Outlook On US Banking System To Negative - Reports

Moody's Investors Service has downgraded its outlook on the US banking system to negative, citing a "rapidly deteriorating operating environment" after the collapse of one of the 20 largest lenders in the country, CNBC reported on Tuesday

WASHINGTON (UrduPoint News / Sputnik - 14th March, 2023) Moody's Investors Service has downgraded its outlook on the US banking system to negative, citing a "rapidly deteriorating operating environment" after the collapse of one of the 20 largest lenders in the country, CNBC reported on Tuesday.

"We have changed to negative from stable our outlook on the US banking system to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and the failures of SVB and SNY," Moody's was quoted as saying by the broadcaster.