BRUSSELS, March 13. /TASS/. The European Commission (EC) does not see a direct risk of contagion after the bankruptcy of Silicon Valley Bank (SVB) in the US and is keeping an eye on the situation, Commissioner for Economy Paolo Gentiloni said at a doorstep before the Eurogroup meeting.
"Well, we don’t see a specific risk of contagion. Of course, we are monitoring the situation in close contact with ECB [the European Central Bank - TASS]," the Commissioner said. Communications are being maintained with US regulators to avert degradation of the financial situation, Gentiloni noted.
The bankruptcy of SVB "does not bear systemic risks for global financial stability," an ING Bank’s financial expert told TASS on Monday.
Silicon Valley Bank, the sixteenth bank in the US in terms of the asset value, became bankrupt on Friday.