LONDON, March 15 (Reuters) - Silicon Valley Bank had only a limited presence in the European Union, but
its collapse shows why lightly regulated foreign lenders need to
meet stricter rules inside the EU, the bloc's financial services
chief said on Wednesday.
"Silicon Valley Bank has a very limited presence in the
European Union and we are in touch with the relevant supervisory
authorities," Mairead McGuinness told the European Parliament.
"So the direct impact of these bank failures on the EU seems to
be limited."
(Reporting by Huw Jones
Editing by David Goodman
)
Messaging: huw.jones.thomsonreuters.com@reuters.net))
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