Banking crisis not over yet, Jamie Dimon warns ...Middle East

JPMorgan Chase CEO Jamie Dimon on Tuesday said that the collapse of Silicon Valley Bank (SVB) and Signature Bank will have long-lasting impacts on the U.S. economy. “As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come,” Dimon wrote in his annual letter to shareholders. Simon said that the bank failures will prompt banks to be more conservative, leading to tighter credit conditions. However, he said that the recent banking crisis is “nothing like” the 2008 financial crisis, where $1 trillion in mortgages were at risk of going under. “This current banking crisis involves far fewer financ

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Banking crisis not over yet, Jamie Dimon warns ...Middle East

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