BRUSSELS, March 24 (Reuters) - European Central Bank
head Christine Lagarde told EU leaders euro zone banks were
resilient because they have strong capital and liquidity
positions, but that the ECB could provide liquidity if needed,
EU officials said on Friday.
Lagarde was presenting her assessment of economic and
financial developments to EU leaders as European banking stocks
fell sharply, with Deutsche Bank and UBS knocked by
worries that actions by regulators and central banks have not
yet contained the worst problems. "The euro area banking sector is resilient because it has
strong capital and liquidity positions," EU officials at the
meeting reported Lagarde as telling the leaders.
"The euro area banking sector is strong because we have
applied the regulatory reforms agreed internationally after the
Global Financial Crisis to all of them," she said.
"The ECB toolkit is fully equipped to provide liquidity to
the euro area financial system, if needed," she said.
(Reporting by Jan Strupczewski)
Messaging: jan.strupczewski.reuters.com@reuters.net))
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