EU does not see risk of SVB contagion, says Gentiloni

The European Union does not see a risk of contagion in the European banking sector following the collapse of Silicon Valley Bank in the US, European Economic Commissioner Paolo Gentiloni said on Monday.

"There is a possibility of indirect contagion, but at the moment we do not see this as a specific risk," Gentiloni said in Brussels at the start of meeting of Eurogroup finance ministers.