ANZ CEO: Banking turmoil has potential to trigger financial crisis

 

SYDNEY -Australia and New ZealandBankingGroup’sCEOsaid on Monday the latestturmoilin the globalbankingsystem had thepotentialtotriggerafinancialcrisisthough 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 recentturmoilat 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 acrisisfor some obviously, but is it afinancialcrisis, who knows? Does it have thepotentialto be one? Yes, it does have thepotentialto be one,”CEOShayne Elliott said in an interview on the bank’s website.

But he said it …

Keep on reading: ANZ CEO: Banking turmoil has potential to trigger financial crisis