Billionaire Charles Schwab's wealth plunged nearly $3 billion after his brokerage's shares were hammered amid the banking crisis
, which is causing jitters — that's because investors are concerned that Charles Schwab Corp could go the way of SVB if it's forced to sell its bonds at a loss.saying it has enough liquidity to weather any volatility.
Peter Crawford, the company's CEO, said in the statement that the company has access to"significant liquidity," including about $100 billion of cash flow, and over $300 billion of incremental capacity with the Federal Home Loan Bank and other short-term facilities. "Given our significant access to other sources of liquidity there is very little chance that we'd need to sell them prior to maturity," Crawford added.
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