ECB calls ad hoc Supervisory Board meeting amid market turmoil

The European Central Bank is holding an ad hoc meeting of its Supervisory Board on Friday to discuss stress in the bank sector after recent market volatility, a spokesperson said.

"The Supervisory Board is meeting to exchange views and to provide members with an update on recent developments in the banking sector," the spokesperson told Reuters.

The gathering follows a similar ad hoc meeting earlier this week and comes after the ECB raised interest rates by 50 basis points on Thursday.