Citi's Corbat says 'this is not a financial crisis' during Trump meeting with Wall Street execs

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Michael Corbat, CEO, Citigroup, speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020.

Adam Galica | CNBC

CEO Michael Corbat said Wednesday that the current turmoil caused by the coronavirus isn’t one stemming from the financial system. 

“This is not a financial crisis,” Corbat said during the White House meeting. “The banks and the financial system are in strong shape and we are here to help.”

Leaders of the biggest U.S. banks were summoned to Washington by President Trump to discuss ways to support small businesses and markets. Brian Moynihan of , Charles Scharf of , David Solomon of  and Stephen Schwarzman of alternative investments giant Blackstone were present at the meeting. 

Moynihan added that the industry intended to help small businesses and consumers weather the impacts of the coronavirus. 

Gordon Smith, co-president of , the biggest U.S. bank, also attended in place of CEO Jamie Dimon, who is . Smith said Wednesday that Dimon was “doing well.”

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