On one of the sites I subscribe to the banking annalist was
commenting on the CA banks.
"California has been the most difficult state so far in terms of
finding a really solid bank. We've looked at more than 80 banks,
and most of them have either a low score or red flags such as
exposure to high-risk commercial lending, unsecured loans, non-core
assets related to IT and VC, and very complex derivative products
sitting on their off-balance sheets. Quite a few were loss-making
and were basically on life support from the tech companies."
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On one of the sites
Posted by amcap on 18th of Apr 2023 at 06:49 pm
On one of the sites I subscribe to the banking annalist was commenting on the CA banks.
"California has been the most difficult state so far in terms of finding a really solid bank. We've looked at more than 80 banks, and most of them have either a low score or red flags such as exposure to high-risk commercial lending, unsecured loans, non-core assets related to IT and VC, and very complex derivative products sitting on their off-balance sheets. Quite a few were loss-making and were basically on life support from the tech companies."