Gov. King spoke at the European Systemic Risk Board conference today, according to Bloomberg.
- Stressed market conditions are being passed through to the real economy
- Dependence on central banks has risen
- European governments must implement crisis plans
- Financial system must be strengthened
- Banks must prepare for a wide range of contingencies
- ESRB did not discuss possible exit of a euro country
- Concerned about risk from debt crisis
- Wants banks to build capital without cutting lending