French, Belgian banks not at risk from SVB collapse contagion - ministers

French and Belgian banks are not at risk from contagion from the Sillicon Valley Bank collapse in the United States, the two countries' finance ministers said at the start of a Eurogroup finance ministers meeting in Brussels on Monday. French Finance Minister Bruno Le Maire also said he did not see a specific risk of contagion for France.

French and Belgian banks are not at risk from contagion from the Sillicon Valley Bank collapse in the United States, the two countries' finance ministers said at the start of a Eurogroup finance ministers meeting in Brussels on Monday. "We monitor the situation hour by hour. For now, we have no indication that there is any risk that there is an impact on our our Belgian banks," Belgian finance minister Vincent Van Peteghem said

"We have a very clear European and Belgium regulatory framework which allows us to know what the situation is and that of course helps us to keep to keep trust in the banking system," Van Peteghem added. French Finance Minister Bruno Le Maire also said he did not see a specific risk of contagion for France.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)