reference to the global financial crisis which led to widespread sell offs and some might argue sewed the seeds from these problems. the fact we have seen this volatility today, what does it tell us about confidence. confidence is the key word because the banking sector works on confidence, investors want to know they will be able to get their money out of the bike when they want it, which is why resort central banks making a coordinated move, bank of england, us federal reserve making these moves shortly after the merger was announced saying we will make sure that out enough us dollars in the system because that is still the global reserve currency that people want to be able to get to and flock to an troubled times because they feel their money as a safe there so that is why it will take time to see how
at the financial times in london. she spoke to my colleague geeta guru murthy a little earlier and gave her, her assessment of events. we saw quite heavy falls in european banking stocks across the board, obviously credit suisse shares fell heavily but also a decent amount of weakness in german and french banks. that has calmed down a little and it is early days and too soon to make strong pronouncements about what investors broadly think but it is at least comforting to see some of the sell offs have calmed down right now. the market is quite jittery, we have had a testing two weeks in global banking. credit suisse has had issues for years, seen as a problem child in european banking circles so it is not a huge surprise it should come to this but the speed with which the swiss authorities took control of the situation tells
markets first opened this morning and it was really quitejittery. we saw some heavy falls in european banking stocks, pretty much across the board. 0bviously banking stocks, pretty much across the board. obviously it credit suisse shares fell very heavily, but there was also a decent amount of french banks. that s calm down a little and it s very early days, and it s a bit too soon to be making strong pronouncements about exactly what investors probably think about the situation. but it is at least comforting to see some of these sell offs have calmed down. what we are seeing now is that governments and central banks, and regulators all over the world are very much coming together to put forward a show of force and strength to say, we ve got this, we ve got the situation in hand. there are questions about whether what s happening now constitutes a banking crisis, and if it could lead to a financial crash similar to what happened in 2008. here s the view of one banking expert.
and liquidity positions. in any event, the ecb s policy toolkit is fully equipped to provide liquidity support to the euro area financial system. despite these assurances, many people are concerned by the volatility of the banking sector. here is katie martin, from the financial times. its first open this morning was really quite jittery. we saw some quite heavy falls in european banking stocks pretty much across the board. 0bviously credit suisse shares fell very heavily, but there was also a decent amount of weakness in, for example, deutsche bank and some of the french banks. now, that has calmed down a little and it s very early days and it s a bit too soon to be making sort of strong pronouncements about exactly what investors broadly think about this situation. but it is at least comforting to see that some of these sell offs
continue to fly in the black sea, so you can expect things like this to continue to happen. in my view, every single day this war continues, we stand the champs of a mishap like this that s why it s critical to keep these lines of communication open lt. general steph twitty, thank you. and courtney, thank you. sell-offs in two more major banks, stoking fears of a growing financial crisis california-based first republic bank, their stocks plummeted today as investors try to identify what regional banks might be at risk after the swift collapse of silicon valley bank. overseas, credit suisse was forced to borrow billions from the swit national bank just to