The failure of the Silicon Valley Bank and the implications for financial stability in Europe: opening statement by Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union

Silicon Valley Bank (SB) was shut down on Friday 10th March 2023. This was the largest failure of a US bank since the financial crisis in 2008. MEPs request a debate on the implications of the failure and the impcations for financial stability in Europe. Opening statement by Mairead MCGUINNESS, European Commissioner for Financial Services, Financial Stability, and Capital Markets Union. The transcription is the result of an automatic process. Please check against delivery.