Federal Reserve Bank of Cleveland: 1972 Bank Failure Was Early Example of Interest Rate Risk
March 26, 2024
March 26, 2024
CLEVELAND, Ohio, March 26 (TNSres) -- The Federal Reserve Bank of Cleveland issued the following news release on March 25, 2024:
A new report from the Federal Reserve Bank of Cleveland compares the 1972 collapse of the Bank of the Commonwealth with the spring 2023 failures of Silicon Valley Bank and First Republic.
Like SVB and First Republic, Commonwealth made investments that lost market value as interest rates increased, triggering a run on deposits.
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A new report from the Federal Reserve Bank of Cleveland compares the 1972 collapse of the Bank of the Commonwealth with the spring 2023 failures of Silicon Valley Bank and First Republic.
Like SVB and First Republic, Commonwealth made investments that lost market value as interest rates increased, triggering a run on deposits.
Str . . .