FRANKFURT (Reuters) – The European Central Financial institution stays able to assist euro zone banks with loans if wanted, ECB President Christine Lagarde mentioned on Sunday, including that the Swiss-brokered rescue of Credit score Suisse was “instrumental” for restoring calm to the markets.

Traders have been involved concerning the affect of Credit score Suisse’s debacle on euro zone banks regardless of the ECB’s repeated reassurance that lenders within the 20 nations that share the euro are strong.

Lagarde repeated that euro space banks have been “resilient, with sturdy capital and liquidity positions” however mentioned the central financial institution was able to step in if mandatory.

“Our coverage toolkit is totally geared up to supply liquidity assist to the euro space monetary system if wanted and to protect the sleek transmission of financial coverage,” she mentioned in a press release.

The ECB has previously offered banks with ultra-cheap, multi-year loans referred to as Focused Longer-Time period Refinancing Operations, in addition to Emergency Liquidity Help, which may be offered by the 20 nationwide central banks of the euro zone towards a broader palette of collateral.

Lagarde welcomed “the swift motion and the selections taken by the Swiss authorities”, which orchestrated Credit score Suisse’s takeover by rival UBS.

“They’re instrumental for restoring orderly market situations and making certain monetary stability,” she mentioned.