A look at the day ahead in European and global markets from Anshuman Daga
But analysts at asset manager Amundi say recession fears are the main culprit and European banks are not lumbered with weak assets that would pose challenges to capital or liquidity levels.
While the analysts expect a continuation of declining credit growth which is consistent with monetary tightening, they don't expect any credit crunch. "Most European banks have plentiful capital and liquidity to support the real economy: We expect them to remain open for business and to continue extending loans to creditworthy customers."on Monday the ECB could take a leaf from the Bank of England's book as it looks for new ways of managing liquidity in the banking sector and steering short-term interest rates in the market.
Meanwhile, a U.S. regulator sued Binance, the world's biggest crypto exchange, and its CEO and founder Changpeng Zhao for what the regulator alleged were an "illegal" exchange and a "sham" compliance programme. Zhao called the complaint "unexpected and disappointing.
European speakers: ECB President Christine Lagarde gives a speech at an opening ceremony of BIS Innovation Hub Eurosystem Centre in Frankfurt; Andrew Bailey, BoE governor Banking at Bank of England participates in a Treasury Select Committee hearing on Silicon Valley Bank
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