Citigroup CEO Michael Corbat stated Wednesday that the present turmoil attributable to the coronavirus is not stemming from the monetary system. 

"This isn't a monetary disaster," Corbat stated throughout a White Home assembly. "The banks and the monetary system are in robust form and we're right here to assist."

Leaders of the largest U.S. banks have been summoned to Washington by President Trump to debate methods to assist small companies and markets. Brian Moynihan of Financial institution of America, Charles Scharf of Wells Fargo, David Solomon of Goldman Sachs and Stephen Schwarzman of different investments big Blackstone have been among the many CEOs current on the assembly. 

The executives have been fast to level out that, not like over the past recession greater than a decade in the past, the banking business is nicely capitalized and has undergone a number of years price of Federal Reserve-mandated stress checks. The...