Banks: The Big Picture
The Macro Trading Floor
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The Importance of Flexibility in the European Banking System
I think the spillovers and ramifications to perpetuals overall. Even front brief banks even real estate companies with issued perpetuals are stressed as a consequence of this AT1 issue in Switzerland. The European banking system is that we Europeans do a lot of things about optimally, but on regulation, we've been much tighter than the US. But watch out for the tails. There are a few banks that haven't done their own work particularly well in Europe. Here you're looking at overall, from a liquidity perspective, I think the system holds overall. It doesn't turn into a systemic event, but this confidence problem, this underregulation in the US, banks that have done their homework much less
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