The European Central Bank has raised the base interest rates by 0.5%, even amid the collapse of Silicon Valley Bank and mounting pressure on major European lender Credit Suisse.
It suggests to me that things may be worse than they look
Another interpretation is that the ECB wouldn’t have raised the 50 basis points if they thought the banking system was threatened. Credit Suisse has had its problems for quite some time.
To paraphrase Tolstoy, “Each bank is unhappy in its own way.”