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In May 2023, Global X Research surveyed 1,030 individuals in the United States regarding their views on the ongoing regional banking crisis and the personal implications of it. Topics ranged from knowledge of how regulatory bodies are reacting and overall confidence in the banking system/markets to possible opportunities for online banking and impact to credit availability.

42% of survey respondents view rapidly rising interest rates as a contributor to the crisis, 39% cite lack of supervision by the Federal Reserve.

Nearly 90% of respondents are unaware that the U.S. banking system’s market value of assets is $2 trillion lower than book value of $23 trillion.^1,2

Over 20% of respondents are aware that they have been negatively impacted by the regional banking crisis.
 

11% weren’t paid on time, 10% weren’t able to secure capital, 9% were denied small business loans, and 8% were laid off from jobs.
 

The leading result of the crisis, as cited by survey respondents, is a lack of consumer confidence (41%), followed by an increased likelihood of a recession (38%).

38% of surveyed individuals are either not very confident or extremely unconfident in the stability and reliability of regional banks following the crisis.

55% of respondents have had their confidence in the markets impacted by the crisis, 27% of whom said to a high degree.

Over 40% of surveyed individuals are at least slightly concerned about the lasting effects on personal finances.

Following the crisis, nearly 20% of survey respondents noticed a decrease in credit accessibility and availability.

Although 40% of respondents are not aware of the guiding measures being taken, over 20% of respondents acknowledge the swift resolution of troubled banks, guarantee on bank deposits, and strengthened oversight administered by regulators.

Despite more than 70% of respondents thinking this crisis may create opportunities for FinTechs, over half still trust banks more.

Now, nearly one-fourth of surveyed individuals are considering exposure to gold/gold mining companies.

Click here to download the Global X ETFs May 2023 Consumer Pulse Survey: Regional Banking Crisis.
 

In September 2023, Global X interviewed 1,109 individuals in the U.S. regarding their views on cybersecurity and the role government intervention should play.