Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police

EU should draw lessons from US banking collapse: Commissioner

  • By Al Mayadeen English
  • Source: Agencies
  • 15 Mar 2023 21:51
2 Min Read

On Friday, Silicon Valley Bank (SVB) failed and was taken over by Californian regulators after 60% of its shares plunged.

  • x
  • European Commissioner for Financial Services, Financial Stability and Capital Markets Union Mairead McGuinness. (Twitter)
    European Commissioner for Financial Services, Financial Stability, and Capital Markets Union Mairead McGuinness. (Twitter)

European Commissioner for Financial Services, Financial Stability, and Capital Markets Union Mairead McGuinness said on Wednesday that the European Union should take into consideration important lessons on "prudential regulation" from the recent collapse of large banks in the US.

"We are watching events in the US... The direct impact on the European Union seems limited and we are in touch with the relevant supervisory authorities. We are also considering what these failures can teach us in terms of prudential regulation, supervision, bank crisis management, and deposit insurance," McGuinness said before the European Parliament.

EU Commissioner Mairead McGuinness insists the direct impact of the #SiliconValleyBank collapse on Europe is "very limited" and that authorities are monitoring the situation "carefully."

"We can say the EU banking sector is overall in good shape," she tells #EPlenary. pic.twitter.com/I2fagPDe1u

— Jorge Liboreiro (@JorgeLiboreiro) March 15, 2023

On Friday, Silicon Valley Bank (SVB) failed and was taken over by Californian regulators after 60% of its shares plunged. Another bank, Signature Bank, closed on Sunday due to systemic risks.

Related News

S&P downgrades US banks credit ratings, shares drop

US Treasury's Adeyemo: Recession looming if US defaults on debt

SVB is considered the second largest bank failure in history, whereas Signature Bank is viewed as the third.

Yesterday, former US President Donald Trump said that the SVB failure was a sign of the times of economic downfall in the US.

"Two big banks yesterday closed, that's a bad sign, that could be the beginning," he stated, referring to the banks' collapse which is suspected to have started due to the increase in interest rates by the Federal Reserve System.

A hike in interest rates is considered to be the reason behind the impairment of assets on the balance sheets of many financial institutions and poor risk management.

Paolo Gentiloni, European Commissioner for Economy, said on Monday that Europe does not see the prospects of serious risks for its financial system in light of the collapse of US banks.

Read more: India's SVC not US' SVB: Name confusion creates chaos, instigates fear

  • US Banks
  • Financial crisis
  • Signature Bank
  • SVB
  • Silvergate

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS