Is the worst now over for America’s banks?

JPMorgan Chase, with US$3.7 trillion in assets, is doing well. (Image: Getty)

Tue, 25 Apr 2023

After a hurricane has passed, there is a period of calm that can feel euphoric. Survival is no longer at stake. Then, once the relief fades, it is time to assess the damage. What destruction has been wrought? How difficult will it be to recover? The sequence will be familiar to anyone who has been paying attention to American banks this year. In the days that followed the sudden failure of Silicon Valley Bank (SVB), once the country’s 16th-largest lender, as well as two other banks, panic and fear ripped through the financial sy...

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