The Next Bank To Fail (What Just Happened)

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CREDIT SUISSE:

They’re one of the world’s most prominent global banks, with more than $1.5 TRILLION DOLLARS under management, more than 50,000 employees, offices throughout the entire world, and a designation as one of the “systemically important financial institutions of 2023." More simply put: They have a MAJOR impact on a variety of money-related transactions….and - because of that, they have been ranked as one of the necessary operations that keeps our economy moving, as basically being “too big to fail.”

However, the Silicon Valley Bank failure resulted in heavy scrutinization throughout the banking industry, with Credit Suisse thrown back in the spotlight.

In fact, Credit Suisse recently said that the bank was seeing “significantly higher withdrawals of cash deposits, non-renewal of maturing time deposits and net asset outflows at levels that substantially exceeded the rates incurred in the third quarter of 2022.”

In addition to that, their largest investors - the Saudi National Bank - said that they would NOT give them anymore capital or increase their position in the bank. That's why we should talk about what this means, if it's possible for them to fail, and how you can potentially protect yourself moving forward. Thanks for watching!

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