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France 24
France 24
World
FRANCE 24

France says no risk of contagion as governments handle SVB collapse fallout

Silicon Valley Bank SVB Le Maire US Federal Reserve Bruno Le Maire France United States Signature Joe Biden Finance
A sign for Silicon Valley Bank (SVB) headquarters is seen in Santa Clara, California on March 10, 2023. © Nathan Frandino, Reuters

The bankruptcies of US banks Silicon Valley Bank (SVB) and Signature do not pose a danger to French financial institutions, Finance Minister Bruno Le Maire said Monday as authorities in the US and UK took extraordinary steps to stop a potential banking crisis.

"I don't see any risk of contagion, so there's no special warning" to issue to local lenders, Le Maire told broadcaster FranceInfo.

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