After the turmoil that continued today in the European financial markets
US Treasury Secretary Janet Yellen called the meeting of top US financial regulators, according to a Bloomberg report, at a time when concerns about the banking system are intensifying after and the turmoil that continued today in the European financial markets and a few hours after the “plunge” of the Deutsche Bank stock.
It is noted that the time for the meeting of the so-called Financial Stability Oversight Council (FSOC), a body overseen by the Treasury Department, while the deliberations will be closed to the public, according to the same publication.
FSOC members include the heads of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and of many other regulatory agencies.
Today's developments with Deutsche Bank's stock plunging up to 15% and insurance costs soaring against possible bankruptcy show that the tensions in the banking sector have not passed.
With information from Bloomberg and APE-MPE
