A new academic study about 2023 bank fragility has found that the U.S. banking sector’s market value in assets is $2 trillion less than what their book value of asset accounting shows. This applies to loan portfolios that have been held until maturity. According to Monday’s study, “Marked-to market bank assets have fallen by an average 10% across all banks with the lowest fifth percentile seeing a decrease of 20%.” Erica Xuewei Jiang of University of Southern California; Gregor Matvos of Northwestern University‚Äôs Kellogg School of Management; Tomasz Piskorski of Columbia Business School; and Amit Seru of Stanford.