World Bank chiefs hold conferences on Trump’s tariff crisis | Money news

The general directors of some of the largest banks in the world have had private discussions on the carnage on the financial markets and the world economy precipitated by the prices of President Donald Trump.

Sky News has learned that lenders’ owners such as Bank of America, Barclays, Citi and HSBC Holdings have appealed on Sunday to discuss the current chaos while the diving stock markets reflect the fears of a global recession.

Sources said that Sunday’s call was summoned by the Bank Policy Institute, a group of public policies based in Washington.

Brian Moynihan de Boa, CS Venkatakrishnan de Barclays and Georges Elhedery de HSBC were one of those who participated in the call, according to a bank director abroad.

JP Morgan, whose president and chief executive officer Jamie Dimon warned against the inflationary and recessionary implications of a trade war in his annual shareholder letter on Monday, would also have participated in the call.

A source said that the appeal was aimed at allowing the leaders of the American bank to describe their opinions on the chaos of the prices in progress to their international peers.

“I hope that after negotiations, the long-term effect will have positive advantages for the United States,” Dimon wrote in his letter published on Monday.

“My most serious concern is how it will affect America’s long -term economic alliances.”

The actions of leading banks were hardly affected by stock market chaos in the world, with Rachel Reeves, the Chancellor, who was in regular contact with the British bank leaders as well as the Bank of England.

On Monday, Andrew Bailey, the Governor of the BOE, was appointed President following the Financial Stability Board, a key international organization.

None of the banks contacted by Sky News would comment on Monday.