Fed's Daly Says Banking Contacts 'Thoughtful' About Loan Books, Careful About Balance Sheets; Credit Tightening So Far Is Consistent With What Would Have Been Expected Without March Banking Turmoil
Portfolio Pulse from Benzinga Newsdesk
In a Reuters interview, Federal Reserve Bank of San Francisco President Mary Daly stated that banking contacts are being 'thoughtful' about loan books and careful about balance sheets. She added that credit tightening so far is consistent with what would have been expected without the March banking turmoil.
June 23, 2023 | 1:35 pm
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NEUTRAL IMPACT
Fed's Daly's comments on banks being thoughtful about loan books and careful about balance sheets suggest a stable banking environment, which may have a neutral impact on the SPY ETF.
Daly's comments indicate that banks are being cautious and responsible in their lending practices, which is a positive sign for the overall economy. However, this information is not directly related to the performance of the SPY ETF, and the impact is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50