By Lewis Jackson
SYDNEY (Reuters) – Australian Treasurer Jim Chalmers said on Thursday that Australian banks were well capitalised after he convened a meeting of major regulators and the country’s central bank to discuss the collapse of Silicon Valley Bank.
Chalmers convened a meeting on Monday of the prudential and securities regulators as well as the Reserve Bank and other relevant ministers to discuss possible exposures from the collapse of Silicon Valley Bank.
“Our regulators are on top of things, our banks well-capitalised with strong liquidity positions, but it’s still a reminder of the risks, uncertainties and vulnerabilities in the global economy as interest rates rise,” said Chalmers in a speech on Thursday.
He made no mention of Credit Suisse, after the flagship Swiss lender’s shares tumbled as much as 30% in European trading in Wednesday.
(Reporting by Lewis Jackson; Editing by Alasdair Pal)
