> At the end of 2022 more than 400 banks with nearly $4trn in combined assets had unrealised losses on their securities portfolios worth at least half of their

> At the end of 2022 more than 400 banks with nearly $4trn in combined assets had unrealised losses on their securities portfolios worth at least half of their core equity capital. Anything where a large amount of its assets aren't marked to market should be seen as a risk. For things like VC, this isn't such a big deal because it's the nature of the game. For banks, it leaves a lot of room for shenanigans,