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Mairead McGuinness, EU financial services commissioner

EU says SVB collapse has 'limited' impact on bloc

Silicon Valley Bank had only a limited presence in the European Union, but its collapse shows why lightly regulated foreign lenders need to meet stricter rules inside the EU, the bloc's financial services chief said today.

Business • 15 Mar 23

Fallout from the collapse continued to roil banking shares in Europe today.

Britain to bolster financial system after SVB collapse

The collapse of Silicon Valley Bank has shown the need to build a larger and more diverse financial system by bolstering the stock market and unlocking cash in pension schemes, Britain's finance minister Jeremy Hunt said today.

Business • 15 Mar 23

Saudi National Bank holds a 9.88% stake in Credit Suisse

Swiss regulators rush to calm fears over Credit Suisse

Swiss regulators said Credit Suisse can access funds from the central bank if needed, racing to calm fears around the lender after it led a rout in European bank shares today.

Business • 15 Mar 23

The US Justice Department is probing the sudden demise of the bank, which was shuttered on Friday

Irish group meets to assess impact of SVB collapse

The Irish Financial Stability Group (FSG) met yesterday to assess any impacts that the collapse of SVB might have on the Irish financial system.

Business • 14 Mar 23

At the start of a Eurogroup finance ministers meeting in Brussels, French Finance Minister Bruno Le Maire called on markets to "calm down"

'Calm down': EU ministers play down SVB contagion

European finance ministers and the EU's economics commissioner played down the contagion risk of the collapse of US Silicon Valley Bank (SVB) while European bank shares saw their biggest rout since the start of Russia's invasion of Ukraine.

Business • 13 Mar 23

Irish tech firms and the Department of Finance are today assessing the impact of the collapse of SVB.

What does the collapse of SVB mean for Ireland?

Banking collapse, runs on deposits and contagion effect are terms that will bring back unpleasant memories of Ireland's financial crash in 2008.

Business • 13 Mar 23

Silicon Valley Bank was closed by US regulators on Friday

Financial Stability Group to examine SVB fallout

The Minister for Finance has said there were "many Irish customers" of Silicon Valley Bank and as such he has asked the Financial Stability Group to do an assessment of any fallout from the bank's collapse on the Irish economy.

Business • 13 Mar 23