White House monitoring China's Evergrande

Katz on Evergrande crisis: We will see the Chinese ‘step up’ in the eleventh hour

UBS Managing Director and Senior Portfolio Manager Jason Katz discusses Evergrande’s debt crisis, U.S. debt ceiling and the market selloff.

The state of Chinese lender Evergrande is roiling U.S. financial markets in what is one of the worst sessions for stocks since July. 

Investors remain on edge over whether a possible default, reportedly in the billions, would impact the U.S. economy and potentially its financial institutions. 

YELLEN WARNS AGAIN AS DEBT CEILING LOOMS

"Let me first note that this is a company based in China whose activities are overwhelmingly centered in China. That being said, we always are monitoring global markets, obviously from the Department of Treasury, primarily including the assessment of any risk to the U.S. economy and stand prepared to respond appropriately if needed. But that monitoring would happen primarily from the Department of Treasury and our secretary of Treasury" said White House press secretary Jen Psaki during Monday's briefing. 

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FOX Business' inquiries to the Treasury Department were not immediately returned. 

China will likely ‘step up,’ stop Evergrande crisis from being global phenomenon: David Rubenstein

The Carlyle Group co-founder David Rubenstein discusses China’s potential ‘Lehman Brothers moment’ amid the Evergrande crisis, U.S. debt and his new book, ‘The American Experiment.’

U.S. financial institutions, Goldman Sachs, Morgan Stanley and Blackrock, are believed to have fractional or littler exposure to Evergrande. Sources tell FOX Business JPMorgan is not exposed. 

Inquiries by FOX Business to these banks were not immediately returned. 

Carlyle Group co-founder David Rubenstein, during an appearance Monday on "Mornings With Maria" said U.S. exposure is nil. 

"I don't think the major U.S. banks are on the hook for very much money," Rubenstein noted. 

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