
The April 21 downgrading of the credit ratings of 11 regional banks by Moody’s raised new doubts about their stability, while their leaders said the turmoil spurred by last month’s collapse of Silicon Valley Bank has passed.
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The city had estimated that the $25 fees would yield $1.3 million, to be collected by a non-profit foundation established to distribute all fee revenue to community-based programs focused on reducing gun violence. That revenue estimate was based on 100% participation of the city’s estimated 52,000 gun-owning households – one of every 15 city adults.
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