Bloomberg Law
March 16, 2023, 1:34 PM

ECB Told Ministers Some EU Banks May Be Vulnerable on Rates (2)

Alberto Nardelli
Alberto Nardelli
Bloomberg News

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.

Luis de Guindos
Photographer: Valeria Mongelli/Bloomberg

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.

All the same, Guindos said that the ECB couldn’t rule out that some lenders might be at risk because ...

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