Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: CS A Governance Risk, Liquidity To Boost Confidence

(MNI) LONDON

Bank of Italy Governor says no contagion implications on euro area banks other than a possible hit to wider confidence in the system

True

The Credit Suisse 'crisis' was caused by a “governance problem” with no direct implications for the Eurozone banking system other than a contagion risk triggered by a lack of confidence in the financial system, and that is why leading central banks announced the enhanced liquidity measures over the weekend, Bank of Italy Governor Ignazio Visco said in an event in Milan Monday.

Visco said the move to enhance liquidity operations was aimed at restoring confidence across the financial sector. Credit will soon become harder to get and the macroeconomic fallout will require even more prudence, he warned.

Keep reading...Show less
139 words

To read the full story

Why Subscribe to

MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Credit Suisse 'crisis' was caused by a “governance problem” with no direct implications for the Eurozone banking system other than a contagion risk triggered by a lack of confidence in the financial system, and that is why leading central banks announced the enhanced liquidity measures over the weekend, Bank of Italy Governor Ignazio Visco said in an event in Milan Monday.

Visco said the move to enhance liquidity operations was aimed at restoring confidence across the financial sector. Credit will soon become harder to get and the macroeconomic fallout will require even more prudence, he warned.

Keep reading...Show less