Big US Banks Make Out Like Bandits Amid Interest Rate Crunch

The Fed’s move to precipitously hike interest rates from near zero in April 2022 to over 5 percent now has wreaked havoc on smaller lenders’ bottom lines, with three US commercial banks collapsing and a major Swiss lender teetering on the brink before being absorbed by a larger Swiss bank in March. But the big players appear to be doing just fine.