The European Commissioner for Financial Services, Mairead McGuinness, said that the European Union should closely monitor the impact of the failures of the three US banks – Silicon Valley Bank, Signature Bank and Silvergate Bank – on the European banking sector and draw the necessary regulatory consequences, during a debate in the European Parliament plenary session on Wednesday 15 March.
At this stage, “the direct impact on the EU appears to be limited”, said Ms McGuinness....