In a joint statement on Sunday, US Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen said that “the US banking system’s capital and liquidity positions are strong and the financial system is resilient“.
Additional comments
“We welcome the announcements made today by the Swiss authorities to support financial stability.”
“The capital and liquidity positions of the US banking system are solid and the American financial system is resilient.”
“We have been in close contact with our international counterparts to support its implementation.”
Shortly after Powell and Yellen came out with the joint statement, the President of the European Central Bank (ECB), christine lagardesaid the central bank expects that “Swiss-brokered Credit Suisse bailout restores calm to financial markets“.
“The ECB remains ready to support eurozone banks with loans if necessary“Lagarde added.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
