Brussels sees no risk of contagion for European banks due to the fall of SVB

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In any case, the Community Executive “takes note” of the actions of US authorities to “prevent contamination” in the North American sector, said the economy commissioner, Paolo Gentiloni.

Euskaraz irakurri: Bruselak ez du Europako bankuak kutsatzeko ariskurik ikusten, SVBren porrotagatik

The Commissioner for Economics Paolo Gentiloniassured this Monday that he sees no “specific risk of contagion” for European banks due to the intervention of the bank US Silicon Valley Bank (SVB), although they will closely follow the evolution of the case from Brussels.

“We do not see any specific threat of contagion. Of course we will monitor the situation, in close contact with the European Central Bank (ECB),” Gentiloni told reporters in the European capital upon arrival at a meeting of economy and finance ministers. Finance of the Eurozone (Eurogroup).

The Community Executive “takes note” of the actions of US authorities to “prevent contagion” in the North American sector, said Gentiloni, who at least stressed that “all European banks, not just the big ones”, are applying for submit the prevention standards provided for in the Basel banking regulations.

For its part, the Vice President of Economic Affairs, Nadia Calvinohas ensured that the Spanish state’s banks face the scenario of financial “turbulence” with “sound” balance sheets and with a “reinforced” supervisory and regulatory framework.

In statements to the media before attending a Eurogroup meeting in Brussels, he also stated that the government is following news from the United States “very closely” and has assured that he is not aware of any “specific statement ” of any kind. Spanish entity to affected US banks.

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Source: EITB

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