Citigroup Inc CEO Jane Fraser has expressed confidence in US banks after a series of closures rattled investors and fuelled turmoil in global financial markets.
“The banking system is pretty sound,” and large and regional banks are well-capitalised, Fraser told the Economic Club of Washington DC on Wednesday.
“This is not a credit crisis. This is a situation where it’s a few banks that have some problems, and it’s better to make sure that we nip that in the bud,” she said.
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