Bank shares sell-off sparks unplanned ECB supervisory board meeting

Stress and vulnerability assessment

The European Central Bank has arranged an unplanned meeting of its supervisory board this morning (17 March) to discuss the impact of recent market movements on European banks.

An ECB spokesperson told Investment Week: "The supervisory board is meeting to exchange views and to provide members with an update on recent developments in the banking sector." The meeting was prompted by a tumultuous week for banks across the world, which began with the sale of Silicon Valley Bank UK to HSBC following SVB's collapse on 9 March. 'This time is different': SVB collapse symptom of easy money rather than systemic banking issues Credit Suisse added to the concerns when a combination of its admission of risk and compliance failures, combined with its largest shareholde...