The negative effects of the bankruptcy of Silicon Valley Bank in the United States reached Europe. This Wednesday, Credit Suisse suffered a collapse of shares on the stock market and has requested a rescue from the Swiss Central Bank.

Despite the fact that the term panic in Europe is not mentioned, analysts foresee more collateral consequences of the SVB bankruptcy.

Shares of Credit Suisse, the only bank not under the supervision of the European Central Bank, had plunged at first 30 %, then 14 % on the Zurich Stock Exchange. However, hours later they rose 20 %.

The ECB, for its part, has initiated contact with financial institutions such as BBWA, CaixaBank, Sabadel, Santander to find out the degree of exposure to Credit Suisse. Fortunately, the exposure is low and they do not seem to be affected.

However, the outlook has turned murkier for Credit Suisse as the bank’s main shareholder, the Saudi National Bank, refused to provide further financial assistance.

European supervisors keep monitoring the world scenario, but particularly in the United States. Likewise, they are focused on other factors with an impact on the financial crisis, such as inflation and the rate hike planned by the ECB for this Thursday.

M.Pino

Source: 20minutos

(Reference image source: Boris Roessler, dpa)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Credit Suisse collapses on the stock market and asks the BCS for support apareció primero en Bitfinance.

The value of Bitcoin reached US$ 26,000 on Tuesday, in an adverse scenario marked by fear among investors after the bankruptcy of Silicon Valley Bank.

The main cryptocurrency in the global market marked the main rise at the close after nine months of ups and downs.

According to analysts, the rebound in the value of bitcoin is marked by a slowdown in inflation in the United States to 6 % year-on-year.

Another factor that has favored the increase in the price of digital currency is the decision of the Federal Reserve to intervene in Silicon Valley Bank.

M.Pino

Source: eluniversal

(Reference image source: Traxer, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Bitcoin price reached US$ 26,300 apareció primero en Bitfinance.