US Treasury Secretary Janet Yellen will meet with heads of the Federal Reserve, the Federal Deposit Insurance Corporation and several other regulatory agencies.
The United States Secretary of the Treasury, Janet Yellensummoned financial regulators to an emergency meeting to try to stop the banking crisis, which now threatens to destabilize the main German bank, the Deutsche Bank.
As reported by Bloomberg, the official summoned the heads of the main US financial regulators for a previously unscheduled meeting of the Financial Stability Oversight Board.
The meeting will be closed to the public, the Treasury Department said in a statement, though it did not clarify What time would the rally start? It was also not immediately clear if the council would issue a statement after the meeting.
Yellen’s appointment comes as regulators continue their efforts to calm financial markets and bank depositors following the recent failure of two US banks, and the near-collapse of the banking giant. Credit Suisse Group AGprior to its government-brokered takeover by its rival UBS AG Group. But it also occurs in parallel to the abrupt fall in the shares of the main banks in Germany.
The action of the main German bank Deutsche Bank it sank more than 12.43% and its rival Commerzbank registered losses of 8.99%. The oscillation of the CDS, a derivative associated with credit risk, is attracting attention.
In the case of Deutsche Bank, the insurance that covers its debt indicates a probability of default of 27.4% in the next five years. For Commerzbank this is 19.3%, according to Bloomberg.
The members of the Financial Stability Oversight Board they include the heads of the Federal Reserve, the Federal Deposit Insurance Corporation, and various other regulatory agencies. Although it has little legal authority, the Council serves as a coordinating forum.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
