BRUSSELS, Mar 15 The EU should assess what lessons it can learn from the bank failures in the US, a European Commission spokesperson told MEPs in France Mairead McGuinness.
«The EU is closely following the developments in the US, the direct impact on the EU seems limited, we are in contact with the supervisors, we are also considering what lessons we can learn from these bankruptcies in terms of regulation, supervision and crisis banking , as well as deposit insurance,» she said.
On March 10, California state regulators closed Silicon Valley Bank, one of the twenty largest US commercial banks. This was the largest bank failure in the US since the 2008 crisis. The collapse of the SVB was associated with an increase in the rate of the Federal Reserve System (FRS), which led to the depreciation of assets on the balance sheets of many financial institutions. In addition, the authorities closed the large New York Signature Bank due to systemic risks. The international rating agency Moody's has downgraded the outlook for the US banking system to negative from stable. ru/20230315/chubays-1858035792.html» data-title=»Volodin jokingly linked the banking crisis in the US to Chubais' visit there»>