US Treasury Sec Mnuchin: Convened meeting with six major bank CEOs

Joshua Gibson FXStreet

According to a press release by the US Treasury Department's Office of Public Affairs, Treasury Secretary Steven Mnuchin held calls with the CEO's of the US' six largest banks, including Bank of America, Goldman Sachs, Morgan Stanley, and others.

Key highlights

Secretary Mnuchin used the public notice to affirm that all of the banks' leaders informed him that ample liquidity remains available for consumer and business market lending, while Mnuchin stated that banks also pointed out that they have not experienced any clearance or margin issue, and that overall financial markets are continuing to function properly.

Mnuchin is also expected to hold a call with the President's Working Group on financial markets, which the treasury secretary chairs. the PWG includes the Federal Reserve's Board of Governors, the CFTC, and the SEC, and the key group of regulators are expected to discuss how to coordinate continued normal market operations.

"We continue to see strong economic growth in the US economy with robust activity from consumers and businesses," stated Secretary Mnuchin and added "With the government shutdown, Treasury will have critical employess to maintain its core operations at Fiscal Services, IRS, and other critical functions within the department."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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