Treasury Secretary Steven Mnuchin referred to as high executives from the six largest US banks over the weekend, he mentioned on Sunday on Twitter, a transfer that adopted heavy losses within the inventory market final week and a partial federal authorities shutdown.
“The CEOs confirmed that they’ve ample liquidity accessible for lending to client, enterprise markets, and all different market operations,” the Treasury mentioned in a press release connected to Mr Mnuchin’s tweet. “He additionally confirmed that they haven’t skilled any clearance or margin points, and that the markets proceed to perform correctly.”
On Monday, Mr Mnuchin will convene a name with the President’s Working Group on monetary markets, which he chairs, in keeping with the assertion. The group, which was created after the 1987 inventory market crash, contains representatives from the Federal Reserve Board, the Securities and Change Fee and the Commodity Futures Buying and selling Fee.
“We proceed to see robust financial progress within the US economic system with strong exercise from shoppers and enterprise,” Mr Mnuchin mentioned within the assertion.