Australia and New Zealand Banking Group’s CEO said the latest turmoil in the global banking system had the potential to trigger a financial crisis though it was early to predict it could bring one similar to that in 2008. | Reuters
, thanks in part to tighter lending standards and a more resilient home economy.“This is a different issue. This is really to do with the global war on inflation and .how central banks are raising rates very quickly in order to combat that, and thatbanking
regulator, soon after the collapse of startup-focused lender SVB, flagged it had intensified supervision of local banks. Global regulators have acted much quicker to support banks this time, having learned lessons from the prior crises, Elliott said. “Having said all that, it’s clearly not over. I don’t think you can sit here and say, ‘Well, that’s all done, Silicon Valley Bank and Credit Suisse and, you know, life will go back to normal’. These things tend to roll through over a long period of time.
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