German corporate treasurers were urged not to ‘underestimate the current situation’ amid changing developments in the global banking system
European corporate treasurers were on alert on Thursday, with a German industry association warning against complacency and major companies saying they were closely monitoring developments in the global banking system.
Eric Reguly: The collapse of the tech bros’ Silicon Valley Bank was more amusing than deadly to the U.S. banking system “Increased attention to potential consequential or amplifying effects is also a must,” Linker was quoted as saying, referring to the interconnectedness of markets that could quickly trigger further problems in Europe.
“I would expect corporates to take precautionary measures,” he said, suggesting they move cash deposits into money markets.
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