Moody’s: Bank failures have limited impact on banks in developing countries
The international credit rating agency Moody’s reported that the impact of bank failures in the US on banks in developing countries is expected to be limited.
Regarding the repercussions of failing US banks on emerging markets, the credit rating agency said: “We expect the direct negative impact of developments on banks in emerging economies to be modest, manifested primarily due to secondary effects such as volatility in local financial assets. and currencies and tightening of financing conditions”.
‘CHANGED SITUATION’
“While the situation in global capital markets remains highly volatile and unpredictable, structural financing forces and liquidity buffers will help protect banks in emerging economies from unexpected events,” the statement said. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
