SHOCKWAVE of bank collapses are coming | Morris Invest

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Bank failures have become the norm. With multiple US regional banks failing last year, and more on the horizon, it’s important to understand how this happened – and how to protect yourself from more impending bank collapses in 2024 and beyond.

Rightfully so, more and more people are scared to keep large amounts of money in the traditional bank system. I mean, their track record isn’t great lately… Not to mention, for the most part, their rates kind of suck. There’s very little incentive for people to keep large amounts in the bank. In early 2023, FDIC’s quarterly report showed that US banks had their biggest decline in deposits ever, since they started reporting in the mid 80s. As you know, banks rely on deposits to keep their businesses afloat, so this is a big issue.

Because when banks don’t have deposits rolling in, they have very few options for funding, including a heavy reliance on the Federal Reserve Banks.

We’re still seeing this deposit issue, and banks are already especially vulnerable in this environment because of continued high rates and commercial loan losses. People are not going back to their cubicles, so there’s no need for most of these office spaces across the country. And unfortunately, a lot of the smaller banks are the ones feeling the pressure. Many will go under this year – and I wouldn’t be surprised if it’s worse than what we saw in 2023.
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