On March15th local time, the international credit rating agency S& rated the first bank of America (FRC) credit rating; PGlobalRatings) and FitchRatings were downgraded to garbage. FRC shares fell 2 1.4% on 15, hitting a new low of1/year. Previously, FRC has been exposed to the problem that deposits cannot be withdrawn and the withdrawal is slow. People suspect that FRC will follow in the footsteps of Silicon Valley banks and signature banks. According to Bloomberg News, some sources revealed that FRC is exploring strategic options including selling.
The additional borrowing ability from the Federal Reserve, the ability to continue to obtain funds through the Federal Housing Loan Bank and the ability to obtain additional financing through JPMorgan Chase Company have increased the existing liquidity of FRC, diversified its (financial situation) and further strengthened its liquidity.