The current banking crisis is not only affecting a small bank in the USA, but also Credit Suisse, which traditionally stands for stability and security.

The rescue operation for Credit Suisse raises questions as to whether banks and state supervision have learnt from the 2008 financial crisis. Banking crises often arise due to a lack of equity to be provided for high-risk transactions.

The traditional banking business is subject to three main risks: market risks, liquidity risks and credit risks. Savings banks and cooperative banks in Germany have already written off €13.7 billion on bond portfolios in 2022 in order to minimise insolvency risks.

Since the 2008 financial crisis, the EU has made a number of changes to the banking sector in order to minimise the risk of payment defaults and make the financial system more crisis-proof. A European resolution mechanism for banks that can no longer be rescued is intended to mobilise shareholders and creditors to bear losses in the event of resolution.

Only as a last resort and under certain circumstances can the taxpayer be asked to foot the bill. However, the creation of a standardised European deposit guarantee scheme, which many economists consider to be of prime importance, has so far failed.

In Germany, there is now a maximum possible compensation amount of €5 million for private depositors and €50 million for other depositors in the event of a bank failure. Deposit protection only protects certain assets.

The German stock market rose in March; the yield on the 10-year German government bond was 2.31%. The oil price (Brent) was down -5.45% at the end of March, while the price of gold and silver rose. The euro depreciated against the Swiss franc, but gained against the US dollar.