According to a report released by the Federal Reserve recently, more than 700 banks in the United States are at risk because of the large floating losses on their balance sheets.
The Fed said the rate hike was the catalyst for massive losses at US banks. More than 700 US banks are facing "significant safety and solvency" risks due to huge floating losses on their balance sheets.
The losses of those banks exceeded 50% of their capital, according to the Fed report.
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