The Banque de France wants to reassure on the possible risks of contagion after the setbacks of the bankrupt American bank Silicon Valley Bank (SVB). According to a spokesperson for the central bank, French banks “are not exposed” to the banking player very established in the tech sector in the United States.
“I do not see any risk of contagion, so there is no specific alert”, also affirmed at the start of the day the Minister of the Economy Bruno Le Maire at the microphone of France Info. “We have banks which are solid”, “a banking system which is solid” and “a liquidity ratio which is high”, he continued, adding that French banking establishments had “very diversified”.
” Calm down ! »
Questioned by AFP, a spokesperson for the French Banking Federation (FBF) indicated that the professional federation “subscribed” to the statements of the Banque de France and Bercy. French banks, like the sector as a whole around the world, have been battered on the stock market since last Friday. “Calm down, calm down, and look at the reality! “, also launched Monday to investors Bruno Le Maire, questioned in Brussels on the fall of European banking shares.
The BNP Paribas share plunged Monday by 6.80% at the close, that of Societe Generale by 6.23% and that of Crédit Agricole by 3.07%. Even if the prices are still on the rise compared to those of the beginning of the year, it is more than 10 billion euros of capitalization in total for these three banks which have soared in two stock market sessions.