Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.91%
12M T-Bill Rate10.21%
2Y T-Bond Rate10.65%/ 10.75%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Moody's Investors Service cut its outlook for the entire US banking sector

InternationalMar 14, 2023
Moody's Investors Service cut its outlook for the entire US banking sector

Moody’s Investors Service cut its outlook for the entire US banking sector Tuesday after placing six US banks on review for potential credit rating downgrades, in the wake of last week’s collapse of Silicon Valley Bank. SVB was brought down by a bank run.

The credit ratings firm said it expects more banks will come under pressure after SVB's failure, particularly those with large hoards of uninsured deposits and long-term Treasury bonds that have crumbled in value.

Silicon Valley Bank, its exposure to long-term Treasuries that tumbled in value during the Fed's historic rate-hike campaign aggravated its liquidity problem.

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