“I don’t see any contagion risk, so we don’t issue any special notices to local lenders,” Le Maire said. The minister said that France’s banks and financial system are “solid” and well able to withstand shocks.
Eurogroup President Paschal Donohoe said the eurozone had “very limited” exposure to the fallout from US banks. He pointed to the very strong regulation in Europe to address such issues.
Resilient
De Nederlandsche Bank (DNB) already indicated on Friday that banks in our country are resilient. Banks can easily absorb a shock from a sharp rise in interest rates, according to DNB. “I have nothing to add,” a DNB spokesman said on Monday. Problems in the US at SVB, partly due to high interest rates, already led to concerns for other financial service providers on the stock markets on Friday. Stock markets fell sharply again on Monday, with significant negative effects for financial funds.