Depends on how the deposit flows go. Prudent people will move their money to the big SIBs and that flow could be enough to force another smaller bank to have to

Depends on how the deposit flows go. Prudent people will move their money to the big SIBs and that flow could be enough to force another smaller bank to have to sell underwater bonds to cover cash needs and then we get to do this all over again. It could end up being a vicious cycle even with this first bank's depositors were bailed out. Depends how the unrealized losses are distributed to which i have no visibility so will have to wait and see.