US banks sitting on unrealized losses of $620 billion on low-interest rate-era bonds

``SVB's downfall was tied, in part, to the plunge in the value of bonds it acquired during boom times, when it had a lot of customer deposits coming in and needed somewhere to park the cash. But SVB isn't the only institution with that issue. US banks were sitting on $620 billion in unrealized losses (assets that have decreased in price but haven't been sold yet) at the end of 2022, according to the FDIC.''