EU lawmaker MarkusFerber wants a review of interest rate and sovereign bond rules for banks as he seeks to stem the impact of Silicon Valley Bank's collapse. jackschickler reports.
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Regulators should seek to stop panic spreading after the collapse of Silicon Valley Bank, an influential European Union lawmaker has said.
“The name of the game is containment now,” Ferber said in an emailed statement. “Panic is infectious and must not be allowed to spread.” EU policy makers have sought to play down fears of contagion. A European Commission spokesperson on Monday said SVB had only a"very limited presence" within the bloc, and French Finance Minister Bruno Le Maire told reporters banks in the country were"not exposed" and had different business models to SVB's.
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