Silvergate, Silicon Valley Bank and Signature – after three crises in one week, the US banking sector is in turmoil. Financial experts and banking regulators are cautiously optimistic about the impact on Germany and Europe. But the mood on the markets is bad.
Silvergate, Silicon Valley Bank and Signature: Three banks with massive difficulties in one week send the US banking sector into turmoil. In Germany and Europe, too, many are wondering whether and, if so, what effects the insolvencies will have on the local banking sector. Financial experts and banking regulators are cautiously optimistic that there will be no domino effect. But the mood on the markets is bad. “What was initially conceived as an isolated bank failure poses systemic risk to the financial system,” said Steven Dover of Franklin Templeton.
Source: Stern
