In afternoon trade, the Commonwealth Bank of Australia (ASX: CBA) share price is on course to end the month on a positive note.
At the time of writing, the shares of Australia's largest bank are up 0.5% to $98.22.
However, unless something spectacular happens between now and the market close, this won't stop its shares from recording a disappointing monthly decline.
As things stand, the CBA share price is on track to post a 2.3% decline in March.
Why is the CBA share price under pressure this month?
Investors have been selling down the CBA share price this month due to concerns that rising interest rates were causing a global banking crisis.
This followed the collapse of Silicon Valley Bank and Signature Bank in the United States, as well as Credit Suisse in Europe.
It wasn't just CBA shares that came under pressure. The rest of the big four banks and particularly the regional players were sold off in March.
Bank of Queensland Ltd (ASX: BOQ) and Bendigo and Adelaide Bank Ltd (ASX: BEN) shares are down 8% and 10%, respectively, month to date. This appears to indicate that the market is far more concerned over their prospects than those of CBA.
Which should not be surprising at all given the strength of CBA's capital position and liquidity.
As I mentioned here, CBA is arguably the safest ASX bank share thanks to its CET1 ratio of 11.4%, liquidity coverage ratio (LCR) of 131%, and net stable funding ratio (NSFR) of 129%. These are all significantly higher than requirements.
All in all, in light of this, it wouldn't be surprising to see the CBA share price rebound in April if banking crisis concerns ease and investors return to the sector.
