“America’s banking crisis is over,” says CIBC economist, Avery Shenfeld.
He says the market now believes “the fear of failure has been shaken out of the system.”
Avery made the remarks in a research report released Friday. He expects the US banking crisis will soon “fade out as a concern for anyone other than the affected banks’ shareholders.”
As we reported in Saturday’s TED spread post, some lending indicators do seem to be getting back to “normal,” albeit slowly. That said, it could be a while before things like variable-rate premiums and lending criteria loosen up to their pre-2008 levels. Some industry watchers feel the latter (lender guidelines) could remain tighter than normal for a few years or more.
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