ANZ CEO: Banking Turmoil Has Potential to Trigger Financial Crisis
SYDNEY—Australia and New Zealand Banking Group’s CEO said on Monday the latest turmoil in the global banking system had the potential to trigger a financial crisis though it was early to predict it could bring one similar to that in 2008.
Authorities around the world are on high alert for the fallout from the recent turmoil at banks following the collapse of Silicon Valley Bank (SVB) and Signature Bank in the U.S. and the emergency takeover of Credit Suisse.
“It’s a crisis for some obviously, but is it a financial crisis, who knows? Does it have the potential to be one? Yes, it does have the potential to be one,” CEO Shayne Elliott said in an interview on the bank’s website….