CEO of Citi speaking - talking up bank deposit safety

<p>Citi CEO Jane Fraser is at a Washington Economics Club event</p><ul><li> Says there are 'isolated problems' in banking industry</li><li>Major and regional banks are well capitalized by and large</li><li>Silicon valley bank had holes in balance sheet and concentrated client base</li><li>Very important to protect depositors</li><li>Social media is a 'complete game-changer' in bank runs</li><li>The banking sector is pretty sound</li><li>Says 'this is not a credit crisis</li><li>First Republic is actively working through challenges it's facing now</li><li>Deposits into first republic bank were aimed at buying time to help company restructure</li><li>First republic deposits were a mark of confidence in banking system</li><li>Expects to get deposits back from first republic</li><li>Not interested in buying first republic</li><li>Credit Suisse has had a lot of issues, management instability, crises</li><li>Says 'no one was hugely surprised' that UBS bought credit Suisse</li></ul><p>eur</p> This article was written by Eamonn Sheridan at www.forexlive.com.

from Forexlive RSS Breaking News Feed https://ift.tt/D6ntObL