Wall Street ends green as U.S. Fed officials soothe bank jitters

In separate appearances, three regional Fed bank presidents said that their confidence that the banking system was not facing a liquidity crisis is what led to the decision to implement a 25 basis point policy rate hike on Wednesday.

“The Fed may be jaw-boning a bit as it says more rate increases may be coming this year,” JPMorgan’s Carter added. “It helps both their inflation goal and suggests confidence in our economic system.” That sell-off was prompted by the rising cost of insuring Deutsche Bank’s debt, expressed by its credit default swaps, coming on the heels of the state-sponsored buyout of Credit Suisse, has fed into the narrative of sector-wide stress.While the S&P Bank index ended modestly lower, the KBW Regional Bank index closed sharply higher.

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