Beware of wartime fake news triggering a run, EU banks told

Reuters

By Huw Jones

LONDON (Reuters) – Banks should beware of fake news that could trigger a run on their deposits, the European Union’s banking watchdog said in a warning on Friday about potential fallout from the war in Ukraine.

“As market sentiment remains highly volatile and driven by news flow, banks’ liquidity levels can become vulnerable due to spread of inaccurate information,” the European Banking Authority said in its latest “risk dashboard”, which focused on exposures to Russia and Ukraine.

“Such campaigns that spread inaccurate information may result in deposit outflows from targeted banks,” EBA said.

https://www.msn.com/en-us/money/markets/beware-of-wartime-fake-news-triggering-a-run-eu-banks-told/ar-AAVJYun

 

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