MarketWatch: Contagion From Turkish Currency Collapse to European Banks is ‘Overblown,’ Says Analyst


“Amid fears that the Turkish lira’s swoon will result in further pain outside the country’s borders, one analyst says investors can take the European banking sector off the list of hotzones at risk of contagion from the emerging-markets crisis.”

“Despite the widespread selling in European bank stocks seen earlier this week, David Carruthers, head of research at Credit Benchmark, says the balance sheets of the European financial sector are in better shape than market participants give credit, and could withstand souring loans from Turkey”

MarketWatch references Credit Benchmark analysis in an article on the credit quality of European banks amidst the Turkish currency crisis.

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Credit Benchmark brings together internal credit risk views from over 40 leading global financial institutions. The contributions are anonymized, aggregated, and published in the form of consensus ratings and aggregate analytics to provide an independent, real-world perspective of credit risk. Risk and investment professionals at banks, insurance companies, asset managers and other financial firms use the data for insights into the unrated, monitoring and alerting within their portfolios, benchmarking, assessing and analyzing trends, and fulfilling regulatory requirements and capital.