Moody's stable to negative outlook for the US banking system, according to CNBC.
The agency's release says the decision was made to «reflect a rapidly deteriorating operating environment» after large-scale withdrawals from Silicon Valley Bank, Silvergate Bank and Signature Bank.
The closure of crypto-focused bank Silvergate was announced on March 8, Silicon Valley Bank was closed on March 10 It was the largest bank failure in the US since the 2008 financial crisis. Signature Bank closed two days later.