PARIS, March 14 (Reuters) – The bankruptcy of SVB Financial Group, a major player in the financing of American start-ups and technology companies which operates under the name of Silicon Valley Bank (SVB), was the largest in the banking sector in the United States since the 2008 financial crisis.
SVB launched a surprise $1.75 billion capital raise last week to shore up its balance sheet, sending the stock price down 60%, and the entire banking industry in its wake.
In addition to SBV, a second bank, Signature Bank, particularly exposed to cryptocurrencies, was closed by the American regulator this weekend.
Concerns about the risks of contagion from the collapse of these two banks thus add to the concerns of investors about the impact of the rise in interest rates on banking establishments.
Regulators and economic officials around the world have since been trying to reassure markets about fears of contagion.
Here are the main dispatches broadcast on the brutal bankruptcy of SVB and its consequences on the markets:
* EU finance ministers offer reassurance on SVB contagion
* USA-Banking system safe, says Biden after SVB and Signature bankruptcies
* Bundesbank calls crisis meeting to assess impact of SVB
* RATES- Plunge in bond yields in the euro zone with the fall of SVB
* STOCK MARKET-European banking sector at seven-week low after SVB
* Bankruptcy of SVB-No “specific alert” on the French banking sector-Le Maire
* HSBC acquires the subsidiary of Silicon Valley Bank in the United Kingdom
* UK seeks to contain risks from SVB bankruptcy
* The US government is not considering a bailout of SVB-Yellen
* Regulators decide to close SVB (Redaction of Paris)
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