Thursday, March 30, 2023
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Two major banks in Europe worry about contagion, look to regulators for reassurance

by Reuters
March 19, 2023
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: People walk with skyscrapers in the City of London financial district seen behind in London, Britain, March 16, 2023. REUTERS/Toby Melville/File Photo

By Stefania Spezzati and Elisa Martinuzzi

LONDON (Reuters) – At least two major banks in Europe are examining scenarios of contagion possibly spreading in the region’s banking sector and looking to the Federal Reserve and the ECB to step in with stronger signals of support, two senior executives with knowledge of the deliberations told Reuters.

The fallout from the crisis of confidence in Credit Suisse Group AG and the failure of two U.S. banks could continue to ripple through the financial system next week, the two executives separately told Reuters on Sunday.

The two banks have held their own internal deliberations on how soon the European Central Bank should weigh in to highlight banks’ resilience, specifically their capital and liquidity positions, the people said.

A key focus of these internal discussions is whether such statements might backfire and stoke even more panic if they are made too soon, the people said.

The executives said that their banks and the sector are well capitalized and liquidity is strong, but they fear that the crisis of confidence will sweep up more lenders.

One of the executives said the Federal Reserve might have to move first as the failures of Silicon Valley Bank and Signature Bank (NASDAQ:) in the United States triggered the concerns in Europe.The ECB declined to comment. A spokesperson for the Fed didn’t have an immediate comment.

The ECB on Thursday stuck with plans for a half-point rate rise to contain inflation. But it stressed it was monitoring market tensions and would respond as necessary to preserve price stability and financial stability in the currency bloc. 

As one of 30 global systemically important banks, Credit Suisse’s problems could ripple throughout the entire financial system, industry executives have said.

While regulators want a resolution to Credit Suisse’s crisis of confidence before markets reopen on Monday, one source cautioned the talks with UBS Group AG (SIX:) are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine, Reuters reported.



Source link

Tags: BanksContagionEuropemajorreassuranceRegulatorsWorry
Previous Post

Possibility of Trump’s arrest builds sympathy among his supporters By Reuters

Next Post

Spartan Delta: Trading At A Free Cash Flow Yield Of 20% At The Current Gas Price (DALXF)

Related Posts

LME Nickel Buyers Worried About Fraudulent Nickel Scandal

by Euro Times
March 30, 2023
0

Ivorr/iStock via Getty Images Original Post By Stuart Burns The London Metal Exchange is back in the limelight again, along...

BlackRock calls on clients to rethink hedging strategy after UK pension crisis By Reuters

by Reuters
March 30, 2023
0

© Reuters. FILE PHOTO: A BlackRock building is seen in New York June 12, 2009. REUTERS/Eric Thayer By Tommy Wilkes...

Tyson Foods: A Buy, The Worst Case Scenario Is Likely Priced In (NYSE:TSN)

by Euro Times
March 30, 2023
0

pixdeluxe/E+ via Getty ImagesInvesting in stocks at or near the bottom is always hard. The easiest way to invest is...

an end run around DeSantis By Reuters

by Reuters
March 30, 2023
0

2/2 © Reuters. FILE PHOTO: People gather at the Magic Kingdom theme park before the "Festival of Fantasy" parade at...

IUSV: Transparent Value With Modest Active Risk (NASDAQ:IUSV)

by Index Investing News
March 29, 2023
0

Mongkol OnnuanThis is the next article of my little series about value exchange-traded funds, or ETFs. After introducing systematic value...

Electronic Arts is cutting about 800 jobs, or 6% of workforce, and reducing office space

by /u/Puginator
March 29, 2023
0

https://www.cnbc.com/2023/03/29/ea-laying-off-6percent-of-workforce-reducing-office-space.html Electronic Arts is cutting 6% of its workforce, equal to about 800 jobs, and reducing office space, the video...

Next Post

Spartan Delta: Trading At A Free Cash Flow Yield Of 20% At The Current Gas Price (DALXF)

Syria’s Assad in UAE for second post-quake Gulf visit | Syria's War News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LME Nickel Buyers Worried About Fraudulent Nickel Scandal

March 30, 2023

Stocks firmer as investors bet banking crisis is behind them By Reuters

March 30, 2023

E3 2023 is on the ropes as more publishers pull out

March 30, 2023

OKX Moves $157M Frozen Assets Linked to FTX, Alameda

March 30, 2023

BlackRock calls on clients to rethink hedging strategy after UK pension crisis By Reuters

March 30, 2023

How the Nashville grade school shooter was able to get guns legally

March 30, 2023
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

LME Nickel Buyers Worried About Fraudulent Nickel Scandal

Stocks firmer as investors bet banking crisis is behind them By Reuters

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In