The "Great Repricing of Bonds" is the problem

 

Banks are not the problem. Banks are the symptom of the problem. Bank management does dumb things and leverage always hurts if you are on the wrong side of a trade. Panics will occur if there is the view is that this problem exists for more firms. 

However, the real issue is the "Great Repricing of Bonds". Interest rates are going up and this is going to last a longer time even if inflation is under control. 

Banks hold bonds and if they are not floating rates, they will be repriced with unrealized or realized losses. Just look at the amount of losses at banks from the repricing. This is system wide. This is a global issue. There is no getting around this problem unless rates fall across the world. Of course, the real value of bonds will also fall with inflation. Wealth is being destroyed and there is no way to effectively hedge this problem.