Wall Street’s New Zombies May Well Be Regional Banks
Commercial real estate exposure is a growing concern for lenders
First Republic Bank is the second-largest US bank failure ever.
Photographer: Jason Henry/BloombergWelcome to The Brink. I’m Neil Callanan, a reporter in London, where I’ve been talking to experts about US regional banks. We also have more on China’s property debt crisis, the latest German landlord to fall deeper into distress and French grocer Casino. Follow this link to subscribe. Send us feedback and tips at ncallanan@bloomberg.net or Tweet/DM to @ncallanan.
Think the regional bank turmoil is over? Think again. The upheaval in commercial real estate threatens to put the industry under renewed pressure, hurting the financial backbone for small businesses across America.