central bank's interest rake hiking cycle. Federal Reserve, which forced some lenders to seek new capital to make up for a fall in the value of assets linked to interest rates.įed Chairman Jerome Powell said on Friday the after-effect of recent banking sector troubles is expected to take some pressure off the U.S. The regional bank crisis has been partly blamed by some on aggressive interest rates by the U.S. (ZION.O) fell nearly 1.7%, and Valley National Bancorp (VLY.O) dropped 5.5%. Comerica Inc (CMA.N) declined 1.2%, Zions Bancorp. The KBW Regional Banking Index (.KRX) fell 2.2%, with shares of PacWest Bancorp (PACW.O) and Western Alliance (WAL.N) among the biggest losers as they shed 1.9% and 2.4, respectively. Yellen also reaffirmed the strength and soundness of the country's banking system at the meeting with bank CEOs on Thursday in the aftermath of the collapse of Silicon Valley Bank, Signature Bank, and First Republic Bank.
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Treasury Secretary Janet Yellen told bank chief executives that more mergers may be necessary following a series of bank failures. regional lenders fell on Friday after CNN reported that U.S. NEW YORK, May 19 (Reuters) - Shares of U.S.
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