German Federal Financial Supervisory Authority: The Silicon Valley Bank's German branch has been closed, and it does not pose a financial threat to Germany

ChainCatcher news, according to official sources, the German Financial Supervisory Authority (Bafin) stated in a declaration that it has ordered the "suspension" of the German branch of Silicon Valley Bank, which will not provide banking deposit services for the time being. In addition, Bafin stated that the collapse of the American Silicon Valley Bank does not pose a financial threat to Germany, as the bank has "no systemic relevance" to the German financial system. (Source link)