OctaFX | OctaFX Forex Broker
Open trading account
Back

US Treasury Secretary Mnuchin held liquidity calls with US six largest banks' CEOs

This is the official press release from the US Treasury Secretary Steven Mnuchin:

Secretary Mnuchin conducted a series of calls today with the CEOs of the nations six largest banks: Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase, James Gorman, Morgan Stanley; Tim Sloan, Wells Fargo. The CEOs confirmed that they have ample liquidity available for lending to the consumer, business markets, and all other market operations. He also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly.

Tomorrow, the Secretary will convene a call with the President's Working Group on financial markets, which he chairs. This includes the Board of Governors of the Federal Reserve System, the Securities and Exchange Commission, and the Commodities Futures Trading Commission. He has also invited the office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to participate as well. These key regulators will discuss coordination efforts to assure normal market operations.

"We continue to see strong economic growth in the U.S. economy with robust activity from consumers and business," stated Secretary Mnuchin and added, "With the US government shutdown, Treasury will have critical employees to maintain its core operations at Fiscal Services, IRS, and other critical functions within the department."

USD/CAD fluctuates in narrow band below 1.36 mark

Following last weeks impressive rally, which caused the pair to record its highest weekly close since May of 2017, the USD/CAD pair started the week q
Read more Previous

FOMC projections are unambiguous: - BNP Paribas

William De Vijlder, chief economist at BNP Paribas, notes that the US growth forecast has been revised downwards for 2019 by the FOMC, while the unemp
Read more Next
Start livechat