'[U.S. officials] will be unable to curtail the current turmoil without longer-lasting and potentially severe repercussions,' Moody's analysts said. Economics USbanking
of the U.S. banking industry, which was slashed from “stable” to “negative.” The credit agency applied the downgrade after three major U.S. banks collapsed, and the contagion spread to other U.S. banks and a few international financial institutions.
“The risk of the financial disruption spilling over could unleash greater financial and economic damage than we anticipated,” Moody’s analysts wrote. According to Moody’s, banks are not the only financial institutions that can be hurt by the Federal Reserve’s consistent . “Market scrutiny will focus on those entities that are exposed to similar risks as the troubled banks,” Moody’s explains.[U.S. officials] will be unable to curtail the current turmoil without longer-lasting and potentially severe repercussions within and beyond the banking sector.
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