Australian treasurer says banks are well capitalised

SYDNEY, March 16 (Reuters) – Australian Treasurer Jim Chalmers stated on Thursday that Australian banks had been effectively capitalised after he convened a gathering of main regulators and the nation’s central financial institution to debate the collapse of Silicon Valley Financial institution.

Chalmers convened a gathering on Monday of the prudential and securities regulators in addition to the Reserve Financial institution and different related ministers to debate potential exposures from the collapse of Silicon Valley Financial institution.

“Our regulators are up to the mark, our banks well-capitalised with sturdy liquidity positions, but it surely’s nonetheless a reminder of the dangers, uncertainties and vulnerabilities within the international financial system as rates of interest rise,” stated Chalmers in a speech on Thursday.

He made no point out of Credit score Suisse, after the flagship Swiss lender’s shares tumbled as a lot as 30% in European buying and selling in Wednesday. learn extra

Reporting by Lewis Jackson; Modifying by Alasdair Pal

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