Will Take 'Weeks and Months' To Learn The Impact Of Silicon Valley Bank Collapse

Wednesday, 15 March 2023 11:47

The US bank's demise last week is the biggest since the financial crash.

It will be "weeks and months" before we learn the impact of the collapse of Silicon Valley Bank according to midlands Asset Manager

The US bank's demise last week is the biggest since the financial crash.

The Department of Public Expenditure says it will assess the impact of the collapse.

CEO of Asset Class, and Laois' Ferdinand Roberts, says it's not clear how exposed Irish companies are, and we won't find out for a while:

Mairead McGuinness says the collapse of Silicon Valley Bank will have a "limited direct impact" on the EU.

Her comments come after European bank shares plunged earlier this week, as investors reacted to two bank closures in the US.

Despite global financial stability concerns, the ECB is still expected to hike interest rates tomorrow in an effort to bring down inflation.

European Commissioner for Financial Services Mairead McGuinness says Europe can learn from what happened in the US:

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