Concerns about the banking system continued today in European financial markets, where Germany’s top bank, Deutsche Bank, closed down 8.5% on the Frankfurt stock exchange.
THE US Treasury Secretary Janet Yellen convened a meeting of the top regulators of the US financial sector, according to Bloomberg.
No time was given for the meeting of the so-called Financial Stability Oversight Council (FSOC)a body overseen by the finance ministry, and the discussions will be closed to the public, the report said.
Deutsche Bank shares fall 8.53%
The meeting comes after concerns about the banking system continued today in European financial markets, where Germany’s top bank, Deutsche Bank, closed down 8.5% on the Frankfurt stock exchange.
Down 1.74% at the end of the session in Paris, 1.66% in Frankfurt, 1.26% in London, after an early part of the week in which indices were in the green following the acquisition of Credit Suisse by its competitor, UBS.
Deutsche Bank shares closed sharply lower today as the cost of default risk (CDS) premiums rose, adding to concerns about the resilience of European banks.
The stock closed down 8.53% at 8.54 euros, after losing as much as 14% on the day, leading to a third straight session of decline on the Frankfurt stock exchange. The share of its competitor, Commerzbank, fell by 5.45% and stood at 8.88 euros.
Source: Skai
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