Market Talk – May 16, 2024
ASIA: The major Asian stock markets had a green day today: NIKKEI 225 increased 534.53 points or 1.39% to 38,920.26 Shanghai increased 2.50 points or 0.08% to 3,122.40 Hang [...]
ECB Declares Two Italian Banks Have Failed
The European Central Bank (ECB) has announced as of June 23rd, that it was declaring two Italian banks insolvent. Veneto Banca Spa and Banca Popolare di Vicenza Spa have failed since the two banks repeatedly violated the regulatory capital requirements. The determination was made in accordance with Article 18 (1a) and Article 18 (4a) of the Uniform Resolution Mechanism Regulation.
The European banking crisis continues.
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