Germany's financial regulator BaFin on Monday said it was imposing a moratorium on the German branch of Silicon Valley Bank in the wake of its demise and noted the branch has 'no systemic relevance'.
Destroyed SVB logo is seen in this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration
FRANKFURT, March 13 - Germany's financial regulator BaFin on Monday said it was imposing a moratorium on the German branch of Silicon Valley Bank in the wake of its demise and noted the branch has "no systemic relevance".BaFin said that the situation posed no "threat to financial stability".Officials at SVB in Frankfurt have not responded to requests for comment.
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