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Citigroup Inc Jane Fraser on Wednesday [March 22] expressed confidence in U.S. banks after a series of closures rattled investors and fueled turmoil in global financial markets.
"The banking system is pretty sound," and large and regional banks are well-capitalized, Fraser told the Economic Club of Washington D.C. on Wednesday.
"This is not a credit crisis. This is a situation where a few banks have some problems, and it's better to make sure that we nip that in the bud," she said.
