US Officials Say Europe'S Banks Are Not Worried About Europe'S Debt Crisis

2011/8/20 8:35:00 39

European Debt Crisis Hits Bank Of Europe

William Dudley, governor of the Federal Reserve Bank of New York, 18, said

U.S.A

The Federal Reserve did not increase its scrutiny of American banks in the US because it feared that the European sovereign debt crisis might spread to the United States.

The Wall Street Journal reported earlier that in order to prevent the European debt crisis from spreading to the US banking industry, the Fed asked big European banks to provide more information to the US branches to prove that they have reliable sources of funds to ensure their capital needs in the US.

In response to this report, Dudley said that the Fed has "been reviewing major banks in the United States" and has been "discriminatory" with the US and European banks in terms of regulation.

Dudley said, yes.

Europe

The censorship of branches in the United States "belongs to the regular workflow, which is what we should do within the scope of our responsibilities."

He also stressed that the Federal Reserve's scrutiny of Bank of America is no less than that of foreign banks.

European banks suffered a 18 day general decline in the past two weeks as investors worried that European banks might suffer huge losses due to the European debt crisis.

Among them, Societe Generale

Price of stock

The decline was more than 12%, and Dirk and Xia Bank, a joint venture between France and Belgium, fell by nearly 14%.