181211 steven mnuchin
US Secretary of Treasury Steven Mnuchin discussed a road map for the next stage of trade talks with China yesterday, during a telephone call with China Vice-Premier Liu He. Image Credit: Reuters

Last week, US stocks suffered one of the worst weekly falls in a decade owing to an interest rate rise and US-China trade tensions rattled markets. In a move that is designed to allay investor fears, US Treasury Secretary Steven Mnuchin made calls to the heads of the country's six largest banks, he said on Twitter on Sunday.

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"The CEOs confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations," the Treasury said in a statement.

On Monday, Mnuchin will convene a call with the President's Working Group on financial markets, which he chairs. The group includes representatives from the Fed, the SEC and the CFTC.