Goldman Sachs Group still believes that American companies are positioned to withstand tougher lending conditions caused by the latest bank crisis.
The investment bank said that U.S.-based firms are less reliant on banks for capital, compared with their peers overseas, reported Bloomberg.
A tightening of loan conditions could have a smaller impact for the banking industry, Goldman strategists, led by Lotfi Karoui, wrote in an April 20 report. The collapse of two U.S. regional banks sent shockwaves through financial markets and is still threatening to curb lending and public fundraising.
Bank Sector Still Shaken by March Crisis
The consecutive bank failures in March led to downward pressure on credit ratings and a massive devaluation in the global financial sector, leading to an emergency takeover of Credit Suisse by UBS….