MADRID, Oct 4 (Reuters) – Santander (SAN.MC) Chief Executive José Antonio Alvarez said on Tuesday that liquidity in the banking sector is “extremely high” and therefore sees no risks of contagion in the sector.
“I don’t think there is such a capacity for contagion,” he said when asked about the Credit Suisse situation.
Shares of Credit Suisse Group AG (CSGN.S) fell 11.5% on Monday and bonds hit record lows before recouping part of losses amid concerns about the lender’s ability to restructure its business without asking for more cash. .
“It doesn’t matter if it’s systemic or not. I don’t think he has an opportunity with levels of liquidity in the system, not only in Spain, but everywhere where there is an extremely high level of liquidity,” he added.
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Reporting by Jesús Aguado; editing by Emma Pinedo
Our Standards: Thomson Reuters Trust Principles.
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