More banks find themselves facing deep scrutiny and potential storms. PacWest and Western Alliance are in the spotlight as regulators, bankers, markets, and investors. Others are feeling pressure as well.

The market waters were already troubled. The Federal Deposit Insurance Corporation shuttered First Republic Bank on Monday, selling it to JPMorgan Chase. The federal funds rate was pumped up by another 25 basis points on Wednesday, driving up financing costs. Troubled parts of CRE are getting stymied by interest rate cap prices and requirements even more than before. The short end of the Treasurys are up with the 3-month at yield at 5.24%.

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Erik Sherman



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