Switzerland's second-largest bank Credit Suisse could be the next to fail after it reported $8 billion in 2022 losses, saw its shares fall five percent on Tuesday, and admitted "material weakness" in its accounting system.

The U.S. Securities and Exchange Commission (SEC) notified the bank last week that its cashflows for 2019 and 2020 would constitute a "misstatement" if they were submitted, causing them to delay their reporting.

Credit Suisse said it had suffered a “failure to design and maintain an effective risk assessment process to identify and analyze the risk of material misstatements.”

Credit Suisse CEO Ulrich Koerner said that its difficulties are unrelated to the failure last week of Silicon Valley Bank, insisting that it had very different and higher standards for "capital funding, liquidity, and so on."

A wider banking failure?

Some financial experts are beginning to worry that the recent bank failures signal a wider banking system failure, however.

Irish macroeconomist Philip Pilkington told Breitbart London that it “looks increasingly like a possible general meltdown of banks. Losses on bonds and mortgage-backed securities (MBS) are huge. Credit Suisse may just be amongst the weaker members of the pack.”

Part of the problem is that governments sold bonds years ago at a lower interest rate, and now that interest rates have risen those bonds need to be sold at a loss because no one wants to buy them when there are higher-rate bonds available.

The bond situation played a major part in SVB's collapse, and will be a problem for any institution that relied heavily on low-interest government bonds.

Kiyosaki makes dire predictions

"Rich Dad, Poor Dad" author Robert Kiyosaki, who predicted the Lehman Brothers collapse in 2008, also said that Credit Suisse may be the next to fall and blamed the bond market collapse if they do fall.

“The problem is the bond market, and my prediction, I called Lehman Brothers years ago, and I think the next bank to go is Credit Suisse because the bond market is crashing,” Kiyosaki told Fox Business on Monday. “The bond market is much bigger than the stock market."

“The US dollar is losing its hegemony in the world right now. So they’re going to print more and more and more of this… trying to keep this thing from sinking,” Kiyosaki went on.

“The [Federal Reserve] and the [Federal Deposit Insurance Corporation] are signalling hyperinflation which makes gold and silver even better because [the dollar] is trash. They are going to print more and more of this fake money. This is what the Fed and the FDIC are signalling, that we are going to print as much of this as possible to keep the crash from accelerating, but they are the guys causing it,” Kiyosaki added.

Moody's downgrade rattles industry

Moody's Investor Service downgraded its outlook on the U.S. banking system to negative from stable on Monday because of the banking failures, making investors in bank stocks even shakier.

After a dip on Monday, however, the stocks mostly bounced back on Tuesday, so it's possible that the damage will be limited to just a few particularly weak banks.