Fitch says banks in Asia are resilient to risks seen in U.S. bank failures
Publishing timestamp: 2023-03-17 01:32:51
Summary
Fitch Ratings has stated that banks in the Asia-Pacific region are "resilient to risks" and exposure to Silicon Valley Bank and Signature Bank is insignificant for the regional banks they cover. The article notes that while there is significant risk of volatility in deposits for digital banks in the region, governments are likely to step in to support their banks when needed. Fitch Ratings also believes that even if the Federal Reserve were to make earlier than expected changes to its monetary policy, banks in the region would still not see much of an impact.
Sentiment: MIXED
Tickers: 8411.T-JP, NAB-AU, SBNY, CBA-AU, 8306.T-JP,
Keywords: world markets, banks, mizuho financial group inc, commonwealth bank of australia, financials, mitsubishi ufj financial group inc, australia, business news, signature bank, national australia bank ltd, united states,
Source: https://www.cnbc.com/2023/03/17/fitch-says-asia-pacific-banks.html