Joachim wuermeling, Former State Secretary for the European Union

Frankfurt, Nov 15 Representatives from national banks and supervisory authorities in the euro area have stressed the resilience of the bloc's banking system in the face of the current crisis.At the opening conference of the Euro Finance Week trade show in Frankfurt, chair of the supervisory board of the European Central Bank (ECB) Andrea Enria said that the banking industry may come under increased pressure as a result of the economic crisis, the incredibly quick shift toward higher interest rates and the rising danger of loan defaults, reports Xinhua news agency.Although the situation is currently positive, caution is advised when looking ahead, Enria added.Her positive assessment of the euro area's banking sector was shared by Joachim Wuermeling, who is responsible for banking supervision at Deutsche Bundesbank. However, he said that banks should "be prepared for unfavourable scenarios".Many banks have used the past few years to better prepare themselves for crises, said Bettina Orlopp, chief financial officer at Commerzbank in Germany.The 25th edition of the annual Euro Finance Week will last until Friday.On the agenda are themes such as digitalization, regulation and asset management.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Joachim WuermelingFOLLOW

Joachim wuermeling, Latest News

Politics :Banks in euro area feel prepared for crises

Frankfurt, Nov 15 Representatives from national banks and supervisory authorities in the euro area have stressed the resilience ... ...