Major Southern Bank Truist to Stop Sales and Trading of MBS and Government Agency Bonds by 2024

Posted on 04/13/2023

Many U.S. banks have been impacted by the bond market debacle caused by being unprepared for rising interest rates. Charlotte, North Carolina-based Truist Financial Corporation plans to stop sales and trading of mortgage-backed securities and government-agency and Small Business Administration bonds by January 2024. Truist terminated about 80 people in its Atlanta and Memphis, Tennessee,…

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