Bank of America Corp BAC shares are trading lower by 5.42% to $28.63. Shares of several bank stocks are trading lower following the recent closure of Silicon Valley BankSIVB and Signature BankSBNY , the largest bank failures since 2008.
So What's Going On With Recent Bank Closures?
Our Benzinga team reported Sunday that U.S. regulators have taken decisive action to safeguard the country's banking system by shutting down New York-basedSignature Bank, becoming the third financial institution to be shuttered after the collapse ofSilicon Valley BankandSilvergate Capital Corp.
The move aims to protect public confidence in the industry, and ensure the banking system continues to protect deposits and provide access to credit to households and businesses, promoting strong and sustainable economic growth.
The regulators said depositors at Signature Bank will have full access to their deposits…Read More
According to data fromBenzinga Pro, BAC has a 52-week high of $44.63 and a 52-week low of $28.50.
