off-the-wire

S&P Global Ratings: no direct threat to Latam financial system from SVB, Credit Suisse

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 16 (Reuters) - The collapse of Silicon Valley Bank last week and the turmoil around Credit Suisse do not pose a direct threat to Latin America's financial system, S&P Global Ratings said on Thursday.


"The direct impact of any particular institution, I don't think is the main risk here," Joydeep Mukherji, managing director & sector lead, Sovereign Ratings Americas, said during a media briefing. However, the fallout of the recent events would likely be felt through its impact on market confidence and knock-on effect on monetary policy and interest rates from the U.S. Federal Reserve and other major central banks, Mukherji added.


"It makes a big difference to the region, whether U.S. interest rates go up dramatically, or they don't go up - so I think that's the larger impact." (Reporting by Karin Strohecker, editing by Jorgelina do Rosario)

Messaging: karin.strohecker.reuters.com@reuters.net))
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