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Charles Schwab shares drop 12% even as the firm defends financial position - TL;DR CNBC

Charles Schwab shares drop 12% even as the firm defends financial position

Publishing timestamp: 2023-03-13 20:47:06


Summary

Charles Schwab defended its portfolio and reassured investors that it has access to liquidity and a low loan-to-deposit ratio, easing fears of a banking crisis following the collapses of Silicon Valley Bank and Signature Bank. The company's shares fell on Monday but some analysts believe it won't face a run like SVB did due to its retail brokerage deposit model with ample liquidity. Schwab is the eighth-biggest US bank by assets and has $7.05 trillion in client assets and 33.8 million active brokerage accounts.


Sentiment: MIXED

Tickers: JPMFRCSBNYSCHWSIVB

Keywords: marketssignature bankstock marketsbreaking news: investingsvb financial groupbreaking news: businessbreaking news: marketsbusiness newswall streetinvestment strategycharles schwab corp

Source: https://www.cnbc.com/2023/03/13/charles-schwab-shares-head-for-worst-day-ever-as-fears-of-banking-crisis-deepen.html


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