Increased short-selling activity and volatility in shares have drawn increasing scrutiny by federal and state officials and regulators in recent days, Reuters reported.
Shares of regional banks resumed their slide this week after the, the third US mid-sized lender to fail in two months. Short sellers raked in $378.9 million in paper profits on Thursday alone from betting against certain regional banks, according to analytics firm Ortex.
“State and federal regulators and officials are increasingly attentive to the possibility of market manipulation regarding banking equities,” the source said. Share price swings did not reflect the fact that many regional banks outperformed on first quarter earnings and had sound fundamentals, including stable deposits, sufficient capital, and decreased uninsured deposits, the source said.“This week we have seen that regional banks remain well-capitalized,” the source said.
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