Finance

ECB interest rates are at good ‘cruising altitude’, ECB’s Knot says

By europepost·November 2, 2023·1 min read

AMSTERDAM, Nov 2 – The European Central Bank (ECB) will likely keep interest rates at their current levels in the coming months, as it waits for further confirmation that inflation is on a downward trend, Dutch ECB governing council member Klaas Knot said on Thursday.

“Personally, and conditional on incoming data confirming the latest projections from September, I see the current level of our policy rates as a good ‘cruising altitude’ where they can remain for some time,” Knot said in a speech in Amsterdam.

“In my view, refinancing operations represent the most efficient tool to provide such a level of reserves down the road.”

Finance

Why regulators seized Signature Bank in third-biggest bank failure in U.S. history

By europepost·March 13, 2023·3 min read

On Friday, Signature Bank

customers spooked by the sudden collapse of Silicon Valley Bank withdrew more than $10 billion in deposits, a board member told CNBC.

That run on deposits quickly led to the third-largest bank failure in U.S. history. Regulators announced late Sunday that Signature was being taken over to protect its depositors and the stability of the U.S. financial system.