Central Banks
ECB’s Guindos Told Ministers Some EU Banks May Be Vulnerable on Rates
- Lenders in Europe much less exposed to SVB fallout, he said
- ECB vice president saw no room for complacency on bank system
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European Central Bank Vice President Luis de Guindos told finance ministers on Tuesday that some European Union banks could be vulnerable to financial strain due to rising interest rates.
Elaborating on the state of the financial industry after the collapse of Silicon Valley Bank, Guindos told the regular Ecofin meeting in Brussels that lenders in the region are much less exposed than their US counterparts, according to people familiar with the talks, who declined to be identified discussing private conversations.