“Unrealized Losses” on Securities Held by Banks, Oh Dearie, the Whole Schmear: +8%, to $558 Billion

“Unrealized losses” on securities triggered the bank panic earlier this year, in that uninsured depositors with millions or billions of dollars at these banks suddenly started looking at the footnote on page 125 of Silicon Valley Bank’s Q4 2022 quarterly report, and saw this thing about “unrealized losses,”...