The European Central Bank (ECB) is holding an extraordinary meeting this Friday to analyze the tensions in European banks after the recent volatility in the markets. “The Supervisory Board meets to exchange views and update members on recent events in the banking sector,” an ECB spokesman explained.
The meeting, which is being held in Frankfurt, follows a similar meeting earlier this week coinciding with the Credit Suisse crisis, the bankruptcies of US entities Silicon Valley Bank and Signature Bank, as well as the First Republic bailout. Bank for 30,000 million. Despite the turbulence that these episodes caused in the markets, the ECB decided yesterday to raise the price of money by 50 basis points, up to 3.5%, to combat the high inflation rates, although without specifying whether it will continue on this path in the next few months.
It is common for the ECB to call extraordinary meetings of its supervisory board, chaired by the Italian Andrea Enria, when there are rapid changes such as those that have occurred in recent days. The institution has so far defended the soundness of European banks and has shown its willingness to provide liquidity if necessary.
According to the Reuters agency, among the points discussed this morning by the institution’s supervisory board is the detection of vulnerabilities and the control of bank liquidity.
