Moody’s Investor Service, better known as Moody’s, has revised its view on the entire U.S. banking system from “stable” to “negative.” They cite rapid deterioration in the operating environment following the bank runs and failure of Silicon Valley Bank (SVB) and Signature Bank. 

In a report, Moody’s said:

We have changed to negative from stable our outlook on the U.S. banking system to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and the failures of SVB and SNY.