Bank shares sell-off sparks unplanned ECB supervisory board meeting

An ECB spokesperson told Investment Week: "The supervisory board is meeting to exchange views and to provide members with an update on recent developments in the banking sector." The meeting was prompted by a tumultuous week for banks across the world, which began with the sale of Silicon Valley Bank UK to HSBC following SVB's collapse on 9 March. 'This time is different': SVB collapse symptom of easy money rather than systemic banking issues Credit Suisse added to the concerns when a combination of its admission of risk and compliance failures, combined with its largest shareholde...