Shares in European banks slumped Wednesday as speculation about the health of Credit Suisse\n \n reignited the market turmoil sparked by the collapse of Silicon Valley Bank. Yet Europe’s lenders are in a stronger position than many of their US peers to weather rising interest rates and the storm unleashed by the demise of SVB and another regional player, Signature Bank, analysts tell CNN.
Even much smaller banks in the European Union are subject to regular testing by the European Central Bank , he noted, with only those holding assets below €30 billion exempt. ‘Material differences’ European banks are also less exposed to fluctuations in the bond market. According to Moody’s, debt securities — which include government bonds — make up about 12% of banks’ balance sheets across the 20 countries sharing the euro currency, compared with 30% across all US commercial banks.
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Stocks making the biggest moves premarket: Credit Suisse, Lennar, PacWest & moreShares of Credit Suisse and several other European banks were halted from trading as prices plummeted. Because they Fed just propped them up. Everything things fine
Source: CNBC - 🏆 12. / 72 Read more »
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Source: FoxBusiness - 🏆 458. / 53 Read more »