The CEO of the famous investment bank in the United States, JPMorgan, Jamie Dimon, warned in his annual letter to shareholders on Tuesday that the banking crisis in the United States is not over yet, and that even once it ends, the US economy will suffer from its repercussions for years to come.
However, Dimon insisted that recent events were nothing like what happened during the 2008 global financial crisis, adding that JPMorgan wants to help strengthen smaller regional banks for the benefit of the entire US financial system.
Bank giant JPMorgan (NYSE:JPM) has reportedly led the effort of a group of banks to save First Republic by depositing $30 billion in the regional lender.
It is worth noting that the head of the Federal Deposit Insurance Corporation (FDIC) in the United States earlier stated, on the sidelines of the hearing of the Banking Committee in the US Senate, that the liquidity of regional banks in the United States remains stable despite the recent turmoil in the financial sector resulting from On the collapse of Silicon Valley Bank and Signature Bank.
And the US official added that regional banks in the United States are still a source of strength for the country’s banking system, and Groenberg also argued that the serial collapse of the two banks threatens to affect the entire US banking sector, warning that the result may have had worse consequences if the US authorities did not take concerted action. To stop the infection from spreading
