1 year ago
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Jamie Dimon says downfalls of Silicon Valley Bank and Credit Suisse have undermined confidence
The financial turmoil that led to the downfall of Silicon Valley Bank in the US and Credit Suisse in Europe is not yet over and its effects will be felt for years, the boss of America’s biggest bank has warned.
In an annual letter to JP Morgan’s shareholders, Jamie Dimon said last month’s failure of SVB and the Swiss government-brokered takeover of Credit Suisse by its rival UBS had undermined confidence in the banking system.
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