ECB banking supervisors don't plan emergency meeting after SVB collapse, source says

The European Central Bank is not planning an emergency meeting of its banking supervisory board on Monday, a senior source told Reuters, even as the collapse of U.S. lender Silicon Valley Bank pummels bank shares.

The source on the Single Supervisory Board saw no direct impact from the SVB collapse on euro zone banks unless the ramifications spread to larger U.S. banks, raising the risk of contagion.