Eurozone banks not directly hit by US stress, says Enria
Eurozone banks are not directly impacted by the collapse of Silicon Valley Bank (SVB) earlier in March, the European Central Bank’s head of banking supervision Andrea Enria said on March 21.
“There is no direct read-across of the US events to euro-area significant banks,” said Enria before the European Parliament’s committee on economic and monetary affairs in Brussels.
SVB’s business model focused its lending and deposit-taking on venture capital firms and tech start-ups, he pointed out
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