The building of the European Central Bank (ECB), in Frankfurt (Germany). WOLFGANG RATTAY/REUTERS
The ECB’s banking supervisor met twice this week. European rules are stricter than in the United States.
The European Central Bank (ECB) is on alert. The severe turbulence that has shaken banking stocks for the past week, due to the bankruptcy of three American banks and the setbacks of Credit Suisse, has raised the specter of a financial crisis. The Frankfurt institution therefore brought together its supervisory body for banks in the euro zone on Friday for a “exchange of views” on the sector. This is the second time in a week that this body has been convened for a meeting. “to this”that is to say outside the usual calendar. “These are not crisis meetings”we insist at the ECB. “Supervisors were advised that deposits remained stable at eurozone banks and their direct exposure to Credit Suisse was negligible”a source close to the central bank told Reuters.
Institutions in the zone have 4,000 billion euros in excess liquidity and customers do not make any withdrawals. For now, the ECB…
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