Goldman CEO doesn’t see ‘systemic crisis’ in credit markets, Bloomberg reports

Goldman Sachs (GS) CEO David Solomon says he doesn’t see any systemic risk looming in the credit market, Bloomberg’s Omar El Chmouri and Joumanna Bercetche report, citing comments made in an an interview with Bloomberg TV on the sidelines of the Future Investment Initiative in Riyadh. Solomon described recent losses at regional banks as “idiosyncratic events” and said they serve as a reminder to stay vigilant about underwriting standards. If the economy slows sharply, or if a major macro event shakes market confidence, losses would emerge across the system, he said. “But that’s different than a systemic crisis.”