What’s behind the recent collapses in the global banking sector?
First Republic is the latest US bank to fail as fears for industry stability persist.
Concerns about the stability of banks in the United States and elsewhere remain. First Republic fails this week; another two banks collapsed in March.
The White House is keen to reassure Americans – and the world – that everything is under control, but that the industry is at its most volatile since the 2008 financial crisis.
The recent collapse of Swiss giant Credit Suisse means shock waves are rippling through a globalized and more interconnected financial system.
So are these isolated, disconnected events? Or signs of something deeper and more concerning?
Presenter: Adrian Finighan
Guests:
William Lee – Chief Economist at the Milken Institute and former Deputy Chief of Division at the International Monetary Fund
Vicky Pryce – Chief Economic Adviser at the Center for Economics and Business Research and former Economic Adviser to the United Kingdom Government
Cornelius Hurley – Lecturer in financial law at Boston University School of Law and former assistant general counsel to the Federal Reserve Board