ECB’s Enria: Direct exposure to Credit Suisse is relevant but manageable
|Andrea Enria, Chair of the Supervisory Board of the European Central Bank (ECB), is speaking at an event on ‘A new stage for European banking supervision.’
Key quotes
Current events confirm that strong, demanding supervision is needed more than ever.
The exception still exists in the form of banks with adequate risk data gathering and reporting capabilities.
We are placing increasing emphasis on a structured escalation of our supervisory interventions where banks’ progress is lagging.
I want bank oversight to be more efficient.
When asked about the fall in deutsche bank's shares: the disquiet among investors is a concern.
Having CDS centrally cleared would be big progress.
Direct exposure to Credit Suisse is relevant but manageable.
Which business concepts are similar to Credit Suisse's were incorrectly identified by investors.
There have been some fast outflows of deposits in some cases.
Market reaction
EUR/USD is unperturbed by the above comments, keeping its range at around 1.0815, up 0.17% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.