2 Major European Banks Seek Support

Two major European banks are examining scenarios of contagion in the region and are looking to the Federal Reserve and the ECB for stronger signals of support, two senior executives told Stefania Spezzati and Elisa Martinuzzi of Reuters.

Photo Insert: The two banks have held their own internal deliberations on how soon the ECB should weigh in to highlight banks' resilience.

The fallout from the crisis of confidence in Credit Suisse Group AG and the failure of two US banks could ripple through the financial system next week, the two executives separately told Reuters on Sunday.

The two banks have held their own internal deliberations on how soon the ECB should weigh in to highlight banks' resilience, specifically their capital and liquidity positions, the people said, the Associated Press (AP) also reported.

A focus of these internal discussions is whether such statements might create even more alarm if they are made too soon, the people said.

The executives said their banks and the sector are well capitalized and their liquidity is strong, but they fear the crisis of confidence will sweep up more lenders, Balazs Koranyi, Dan Burns and Iain Withers also reported for Reuters.

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