European Central Bank supervisors see no impact on eurozone banks due to recent sector turmoil, even after Credit Suisse and First Republic Bank financing deals failed to allay concerns and volatility still lingers.
Major US banks attacked on Thursday a $30 billion rescue line for the First Republic, which was under scrutiny following the collapse of other North American banks, Reuters reported.
The funding came shortly after Credit Suisse secured more than €50 billion in liquidity from the Swiss National Bank (SNB).
Despite the events of recent days, the pressure on the sector seems to continue.
This Friday, the ECB held an extraordinary meeting of the supervisory board to discuss the instability in the banking sector, which has already happened this Monday after the collapse of Silvergate, Silicon Valley Bank and Signature bank.
Supervisors will be informed that deposits in the Eurozone are stable and that banks’ exposure to Credit Suisse is declining.
This Friday at 15:00, Credit Suisse lost 9.57% to CHF 0.1935, already down more than 12%, swayed by a Morningstar Direct report that showed Credit Suisse faced a $450 million capital outflow. and Europe from Monday to Wednesday.
In Europe, Stoxx Banks continues to be in the red, shedding 3.15%. BCP, the only bank listed on the Lisbon Stock Exchange, shed 5.86% to €0.1815 after falling nearly 7%.
Author: morning Post This business magazine
Source: CM Jornal
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