Financial markets have been functioning well since Russia invaded Ukraine and the West hit Moscow with sanctions, but they are showing some signs of strain, US Under Secretary for Domestic Finance Nellie Liang said on Monday.
Liang said in comments to an Institute of International Bankers conference that tensions are showing in wider differences between buy and sell prices and slightly higher uninsured financing costs.
“Investors are meeting high margin calls without delay. In addition, investors show little concern about solvency or liquidity stress at domestic financial institutions,” Liang said in prepared remarks.
She said the Treasury and the regulators that make up the US Financial Stability Oversight Board are closely monitoring the market situation and talking to financial regulators in other countries.
“We will continue to pay attention to the consequences of recent events,” added Liang, a former longtime Federal Reserve economist.
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