Bank shares sell-off sparks unplanned ECB board meeting

Meeting prompted by tumultuous week for banks across the world

clock • 1 min read

The European Central Bank has arranged an unplanned meeting of its supervisory board this morning (17 March) to discuss the impact of recent market movements on European banks.

An ECB spokesperson told PA's sister title Investment Week: "The supervisory board is meeting to exchange views and to provide members with an update on recent developments in the banking sector." The meeting was prompted by a tumultuous week for banks across the world, which began with the sale of Silicon Valley Bank UK to HSBC following SVB's collapse on 9 March. Credit Suisse added to the concerns when a combination of its admission of risk and compliance failures, combined with its largest shareholder announcing it would not be able to add further financial banking, resulting in a...

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