The European Central Bank reassured European Union leaders on Friday (March 24) that euro zone banks were safe but called on them to push on with an EU deposit insurance scheme, according to officials.
On the second day of talks in Brussels, EU leaders discussed economic issues, including changes to the bloc’s fiscal and debt rules, but concern over the impact of the troubles of Credit Suisse and Silicon Valley Bank (SVB) on the EU banking system was high on the agenda, officials said.
European banking stocks fell sharply again on Friday, with Deutsche Bank and UBS knocked by worries that actions by regulators and central banks have yet to contain the worst problems to face the sector since the 2008 financial crisis.
