However, Standard Chartered CEO Bill Winters said on Monday that a period of negative economic growth in the U.S. was possible
Standard Chartered Chief Executive Bill Winters said on Monday he sees a big recession in the United States as unlikely, although a period of negative growth was possible.
He said Standard Chartered’s credit committee is “not tighter at all” after the collapse of three regional U.S. banks. The “reactive response in the U.S. was perfect,” effectively stemming the crisis, he said, adding the ideal would have been to provide liquidity to “challenged banks” ahead of time. First Abu Dhabi Bank, the UAE’s biggest lender, earlier this year had considered a bid to take over Standard Chartered, but later said it was no longer doing so.
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