French banks are not exposed to the bankrupt American bank Silicon Valley Bank (SVB), a spokeswoman for the Banque de France told AFP on Monday, confirming information from the French daily Le Parisien.
The central bank thus wishes to reassure on the possible risks of contagion after the setbacks of this banking player very established in the tech sector in the United States. Especially since two other banks have also gone to the mat across the Atlantic: Silvergate Bank and Signature Bank.
I do not see any risk of contagion, so there is no specific alert, said the Minister of Economy Bruno Le Maire earlier in the day at the microphone of France Info.
We have banks that are strong
We have banks which are solid, a banking system which is solid and a liquidity ratio which is high, he continued, adding that French banking establishments had very diversified sectors of activity.
French banks, like the sector as a whole around the world, have been battered on the stock market since last Friday. BNP Paribas plunged Monday around 3:30 p.m. by 6.32%, Socit Gnrale by 6.11% and Credit Agricole by 3.45%.
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Even if their shares remain on the rise compared to their prices at the start of the year, more than 10 billion euros in capitalization have soared in two stock market sessions.
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