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MNI BRIEF: Gentiloni-See No SVB Contagion Risk; ECB Monitoring

European Economy Commissioner Paolo Gentiloni said Monday that he saw no “specific” risk of European bank contagion from the failure of the Silicon Valley Bank in the US, but said that the Commission and ECB would continue to monitor the situation.

Gentiloni said all European banks, not only the biggest "are applying the prudential Basel standard. So directly, there is no contagion. The possibility of indirect impact is something we have to monitor but, at the moment, we don’t see it as a significant risk”.

“I don’t think there is a real risk of contagion at the moment,” he said.

MNI Brussels Bureau | david.thomas.ext@marketnews.com
Central Bank NewsPolicy NewsHomepageFiscalGovernment sectorStoryRegulationCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefEuropean Central BankRegion
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MNI Brussels Bureau | david.thomas.ext@marketnews.com
Central Bank NewsPolicy NewsHomepageFiscalGovernment sectorStoryRegulationCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefEuropean Central BankRegion
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