The failure of First Republic Bank in the US has revived fears about the safety of the US banking sector, amid warnings from experts that new banks could fail.
Bloomberg published the First Republic Bankruptcy Report, which identified the 5 largest bankruptcies in the US banking sector.
According to the agency’s classification, “First Republic” ranks second with bank assets of $229 billion, while “Washington Mutual” which collapsed in 2008 ranks first with bank assets of $307 billion.
In third place is Silicon Valley Bank with assets valued at $167 billion, followed by Signature Bank with assets valued at $110 billion.
Notably in a Bloomberg report, three of the four largest US bank failures occurred in the past two months.
5 largest bankruptcies in the US banking sector:
Source: Bloomberg.