French Finance minister: "No specific SVB alert on French banking system"

French Finance Minister Bruno Le Maire said on Monday the collapse of the U.S. bank SVB Financial Group posed no risk to the French banking system.

"We are monitoring the situation in the U.S. but there is no specific alert on the French banking system, which is solid," he told franceinfo radio.

Friday's dramatic failure of SVB Financial Group, which focuses on tech startups, was the biggest bank collapse in the U.S. since the 2008 financial crisis.