ECB's De Guindos warns of broad risks in financial sector

ECB's Lagarde speaks to reporters following a monetary policy meeting, in Frankfurt
European Central Bank (ECB) Vice-President Luis de Guindos attends a news conference following the ECB's monetary policy meeting in Frankfurt, Germany December 15, 2022. REUTERS/Wolfgang Rattay

CERNOBBIO, Italy, April 1 (Reuters) - The European Central Bank (ECB) is monitoring current market tensions closely and will act to preserve price and financial stability in the euro area, ECB vice-president Luis de Guindos said in a speech on Saturday.

"...In our view, vulnerabilities in the financial system prevail in the non-bank financial sector, which grew fast and increased its risk-taking during the low interest rate environment," De Guindos told the Ambrosetti business forum in northern Italy.

Reporting by Giancarlo Navach Writing by Keith Weir, editing by Gavin Jones

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