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S&P just downgraded some big banks. Here are the 5 that are impacted. (www.cbsnews.com)

submitted 2 years ago* (last edited 2 years ago) by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml

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Why were these banks downgraded or reviewed?

S&P said it reviewed these 10 banks because it believes they have “potential risks in multiple areas.”

The ratings firm added: “For instance, some that have seen greater deterioration in funding — as indicated by sharply higher costs or substantial dependence on wholesale funding and brokered deposits — may also have below-peer profitability, high unrealized losses on their assets, or meaningful exposure to CRE,” or commercial real estate.

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