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Marketplace

The “slow burn” phase of the banking crisis

Marketplace

Marketplace

News, Business

4.68.5K Ratings

🗓️ 14 August 2023

⏱️ 27 minutes

🧾️ Download transcript

Summary

It’s been nearly five months since the collapses of Silicon Valley Bank and Signature Bank sparked upheaval in the banking industry. But this week, Moody’s cut the credit ratings of several regional banks, citing problems related to rising interest rates and troubled loan portfolios. We’ll dive in. Plus, California trucking companies go electric, and a decline in China’s exports hints at a global spending slowdown.

Transcript

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0:00.0

Marketplace Morning reports new Skin in the Game series explores what we can learn about

0:04.5

money and careers from the $300 billion video game industry.

0:09.4

Plus here how an Oakland-based program helps young people get the skills they need to break

0:14.0

into this booming industry.

0:16.0

Listen to Skin in the Game and more from the Marketplace Morning report wherever you get

0:20.5

your podcasts.

0:23.8

In which bank might be an economic four-letter word from American public media?

0:31.8

This is Marketplace.

0:43.1

In Los Angeles, I'm Kyle Rizdole.

0:44.9

It is Tuesday, today, the eighth day of August, good as always to have you along, everybody.

0:50.6

It has perhaps escaped your notice unless you are a close observer of the regional bank

0:55.8

scene.

0:56.8

That things have been relatively calm since Silicon Valley Bank in signature and then first

1:02.2

republic collapsed this spring.

1:04.9

Well, that was then.

1:07.0

This is now.

1:08.0

Moody's has downgraded its ratings on a handful of regional banks, citing interest rate

1:13.2

risks and troubled loan portfolios.

1:16.1

This Marketplace's Justin Ho reports a lot of the problems in banking that surfaced

1:19.8

earlier this year, they have not gone away.

1:23.3

One of the big issues that Moody's cited was bank deposits.

1:26.7

That's because rising interest rates have put pressure on banks to prevent customers

...

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