Will the RBA be able to keep banks afloat as fixed loans switch to variable?, page-22

So far there are limited bank failures in the US and no contagion.

That could change.

The value of the liabilities of the last 3 banks that failed in the last few months exceeds the total amount of bank failures in the 2008-9 GFC. That's over 300 banks! This does not compute the figures are staggering.

If that doesn't worry anyone then we really are living in a parallel universe.