Immediate investor concerns over the banking sector eased on Tuesday, lifting stock prices, with the European Central Bank's supervisory chief saying recent sector volatility underscored the need to step up regulatory scrutiny.European banks were up 1.2 per cent, adding to Monday's 1.4 per cent gain, with
Immediate investor concerns over the banking sector eased on Tuesday, lifting stock prices, with the European Central Bank's supervisory chief saying recent sector volatility underscored the need to step up regulatory scrutiny.
Top U.S. banking regulators said on Monday they planned to tell Congress that the overall financial system remains on a solid footing after recent bank failures, but will comprehensively review their policies in a bid to prevent future collapses. In Europe, in the wake of a sell-off in Deutsche Bank shares last week, the ECB's top supervisor said he was concerned as it showed investors were on edge and could be spooked by moves in the credit default swap market."What concerned me really was the amount of nervousness disquiet that I perceived in the market and among investors," Andrea Enria told a conference in Frankfurt.
SVB's collapse was the trigger for the worst banking shock since the global financial crisis, sending bank stocks globally on a wild ride, raising fears of systemic stress and putting central banks and regulators on high alert.
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