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The U.S. Banking Crisis of 2023 and Its Implications for Africa

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  • Hinh T. Dinh

Abstract

This Policy Brief examines the current banking crisis in the United States and its implications for Africa. Many studies have pointed out the main factors responsible for this crisis, including poor risk-management practices in the failed banks, the sector’s weak regulatory structure, and the failure of bank supervisors. However, a key factor that has contributed to the extent and speed of the crisis is the U.S. Federal Reserve’s (Fed) policy actions, including the elimination of reserve requirements in 2020, which resulted in a surge in demand deposits, and led to banks taking excessive risks.

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  • Hinh T. Dinh, 2023. "The U.S. Banking Crisis of 2023 and Its Implications for Africa," Policy notes & Policy briefs 2013, Policy Center for the New South.
    • Handle: RePEc:ocp:ppaper:pb23-23
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    File URL: https://www.policycenter.ma/sites/default/files/2023-06/PB_23-23_hinh.pdf
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    1. Hinh T. Dinh, 2023. "The Current Banking Crisis and U.S. Monetary Policy," Research papers & Policy papers 1968, Policy Center for the New South.
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