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SVB bank
SVB Financial's share price collapse is weighing on top bank stocks including JPMorgan and Bank of America.

Dado Ruvic/Reuters

  • Since the collapse of SVB and Signature Bank in March, US banks have become cautious on lending.
  • They're holding a cash pile of $3.3 trillion amid fears of an economic slowdown, Reuters reported. 
  • The sector remains subdued after Moody's slashed the credit ratings on 10 US banks in August.

Since the dramatic banking turmoil that saw both Silicon Valley Bank and Signature collapse in March, America's biggest lenders have become considerably more cautious when extending loans.

Tags
economy, economy, Markets, Credit, Banks, SVB, Cash, us-economy-and-markets, credit-squeeze, cash-reserves, Banking, us-banks
Source
US banks hoard $3.3 trillion in cash amid fears of an economic slump