- US Official: Credit Suisse's problems are unrelated to deposit runs on us regional banks
Market news
19 March 2023
US Official: Credit Suisse's problems are unrelated to deposit runs on us regional banks
“US regulators were in touch with Swiss counterparts on UBS-Credit Suisse deal,” said an anonymous US Official during Sunday per Reuters.
Additional comments
US bank deposits have stabilized, with outflows either slowing, stopping or in some cases reversing.
US banks have limited exposure to credit suisse after reducing exposure in recent months.
Market sentiment remains fragile
The news fails to improve market’s mood, even if the traders begin the key week on a firmer footing after weekend news of the UBS-Credit Suisse deal. The reason could be linked to Reuters’ headlines suggesting more banking fallouts in Europe.
Also read: UBS to take over Credit Suisse
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