Association: Treasurers must not underestimate the situation
The Association of German Treasurers (VDT) warns those responsible for finance in companies not to underestimate the current situation. Even if they are not directly or indirectly affected by the collapse of the three US banks Silvergate, Silicon Valley Bank and Signature Bank, they should keep a watchful eye on the American markets, according to a VDT statement on Thursday.
“The speed and scope of such crisis developments in the capital market are always remarkable,” explained VDT risk manager Carsten Linker. Both the interdependence of the capital and financial markets and individual risks such as Credit Suisse could quickly trigger further problems. “I am convinced that the majority of treasurers will have a different ad hoc transparency about their financial risks and bank exposures in 2023 than they did in 2008,” explained Linker.