The Limited Times

Now you can see non-English news...

The ECB meets in an extraordinary way to analyze the turbulence in the financial markets

2023-03-17T12:43:27.741Z


The Supervisory Board examines the vulnerabilities and liquidity position of banks in the euro area The Supervisory Board of the European Central Bank (ECB) meets this morning in Frankfurt in an extraordinary meeting to analyze the turbulence suffered by the financial markets in Europe, as confirmed by sources from the institution. The meeting, which is being held in Frankfurt, comes after the institution chaired by Christine Lagarde assured that it is "prepared" to offer all the necessary liqui


The Supervisory Board of the European Central Bank (ECB) meets this morning in Frankfurt in an extraordinary meeting to analyze the turbulence suffered by the financial markets in Europe, as confirmed by sources from the institution.

The meeting, which is being held in Frankfurt, comes after the institution chaired by Christine Lagarde assured that it is "prepared" to offer all the necessary liquidity to the markets if necessary.

The turmoil in the financial markets marked the meeting of the Governing Council of the ECB on Thursday, which decided to go ahead with its plans to raise interest rates by half a point, to 3.5%, but which also opted for using a more moderate tone.

In addition, the Eurobank decided not to reveal any of the movements it intends to make in the coming months in order to adapt to the vagaries of the markets.

The ECB repeated on several occasions that European banks are "solid" and "resilient".

But council members, many with political pasts, know how easy it is for a financial crisis to spread.

For this reason, the Supervisory Board met this Friday with the aim of reviewing the lurch that the markets have experienced this week.

"The Supervisory Board meets to exchange views and update members on recent events in the banking sector," says a spokesperson for the entity.

The meeting, convened in an extraordinary way, is not expected to last.

This type of meeting of the body chaired by the Italian Andrea Enria is common when the situation changes so quickly.

In fact, another one had already been called at the beginning of the week, after the bankruptcies of Silicon Valley Bank and Signature Bank and the Credit Suisse crisis, a bank located in the great traditional fortress of world banking and at the gates of the euro zone. .

According to the Reuters agency, among the points being debated is the detection of vulnerabilities and the control of liquidity that European banks may have.

Follow all the information on

Economy

and

Business

on

Facebook

and

Twitter

, or in our

weekly newsletter

Source: elparis

All business articles on 2023-03-17

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.