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https://www.dnb.nl/en/actueel/general-news/2023/speech-2023/speech-klaas-knot-mamma-mia-here-we-go-again-lessons-from-svb-and-credit-suisse/ Klaas Knot, FSB chair, is my age, and refers to ABBA, King Gustav and kings and queens, so I appreciate the humor, but his message is clear: the #financial system is not ready for failures of the biggest #banks, like #SVB and #CreditSuisse. We need #redundancy and #resolution plans. We need awareness of #contagion and system-thinking. I like the debate already and it has not even started.
www.dnb.nl“Mamma Mia, Here We Go Again? Lessons from SVB and Credit Suisse”“So far, no shock has been the Waterloo of our global financial system.” This is what Klaas Knot said at Eurofi’s High Level Seminar 2023 in Stockholm.