Bernanke spooks markets with bank failure warning

The dollar hit a record low against the euro after Ben Bernanke, the chairman of the Federal Reserve, warned that small banks could fail in the coming months.

"There will probably be some bank failures," Bernanke told US lawmakers on Thursday 28 February, pinpointing small, newer banks in areas where house prices have plummeted as those at most risk.

However, there were no "serious problems" at the bigger banks, whose failure could pose a systemic threat, the chairman said, adding that their

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: