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

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

The Commissioner for the Economy Paolo Gentilonihas assured this Monday that he does not see “specific risk of contagion” for European banks due to the bank intervention US Silicon Valley Bank (SVB), although from Brussels they will closely follow the evolution of the case.

“We do not see a specific risk 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. Finances of the euro zone (Eurogroup).

The Community Executive “takes note” of the actions of the United States authorities to “avoid contagion” in the North American sector, said Gentiloni, who in any case stressed that “all European banks, not just the big ones”, they are applying the prevention standards provided for in the Basel banking regulation.

For her part, the Vice President of Economic Affairs, Nadia Calvinohas ensured that the banks of the Spanish State face the scenario of financial “turbulence” with “healthy” balance sheets and with a “reinforced” supervision and regulation framework.

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