Updated: Mar 13, 2023 | 13:48
March 13, 2023 | 10:50
Ibex 35 fell 3.51% this Mondaystanding at 8,958.9 points, on a day marked by a swelling decline in interest after the turmoil observed in the United States of America due to the resolution of the Silicon Valley Bank and Signature Bank.
The values that are falling the most on Monday are listed by six large banks. He was severely punished Sabadell Bank (-11.81%), before banker (-8.54%). BBVA (-8.24%). Unicaja Bank (-7.78%). Santander Bank (-7.35%) y CaixaBank (-6.24%).
On your side, they were the only ones who closed the “green” session you are doing (+1.62%). Cellnex (+0.89%). Electric Network (+0.80%). nature (+0.7%). Acciona Renewable Energies (+0.47%). Solarium (+0.29%) fluids (+0.12%). The decrease in the reductions around the banks this Monday caused more of these values to be auctioned for liquidity, which is why the price is paralyzed for several minutes, as explained to the European Press by BME sources.
The government made a call for calm. First Vice President Nadia Calvinoreported that he was “not aware” of any exposure of the Spanish banking system to affected banks in the United States.
“This volatile situation in the financial markets is found with the Spanish banking system which has a strong framework with care and regulation and this He has a healthy situation It’s a balance,” explained Calvino.
The fall recorded in the prices of Spanish banks occurred after the Federal Reserve, Treasury and Federal Deposit Insurance Corporation (FDIC) of the United States established a Silicon Valley Bank y Signature due to liquidity issues.
As part of the relief plan, H announced that he was available to the country’s banks.additional funds“with the objective of providing support entities have the ability to satisfy the needs of all their depositors.
These policies did not prevent the UK Government and the Bank of England from also intervening and making decisions to sell the UK subsidiary of Silicon Valley Bank to HSBC for the symbolic balance of the balance. As reported by both institutions, the funds of all depositors of the UK entity are “safe and secure” for this reason.
The collapse of European banks
European financial institutions were also affected. In London’s parquet, banks too a pile of white stock in redalong with some of its giants, Wall Street was hit hardest by the contagion. At the end of the session, its main index, the FTSE-100, left 1.67 of its value, while HSBC, the first bank in Europe, lost 4.59% by capitalization.
In Frankfurt, the main German banks were sent to similar sharp declines; as were the French banks, which were hard. Société Generale and BNP Paribas fall back on themselves 4.49% and 3.82%respectively, at the end of the session some losses in this way are beaten which during the day exceed 6%.
Thus, the German DAX fell by 3.04%, the French CAC 40 fell by 2.90% and the Italian FTSE MIB fell by 4.03%.
Another of the large European entities affected by the SVB crisis is Switzerland’s Credit Suisse, which closed with a drop of 4.84% compared to the previous date and the new historical minimum for the entity.
At the end of the trading day in Europe, US financial regulators announced the closure of SVB due to lack of liquidity and insolvencythen to perform all his deposits in credit.
US bids to guarantee Silicon Valley Bank client funds
United States Treasury Department Federal Deposit Insurance Corporation (FDIC) to Silicon Valley Bank provides clients with moneywhich they will be able to access today. “Depositors will have access to all money starting Monday, March 13. Any loss will be borne by the payment of Silicon Valley Bank Arpin,” according to a joint statement of the US Treasury, FDIC and the Federal Reserve, which show that shareholders and borrowers are not protected. The objective is to “maintain public confidence in the banking system of the United States,” said US Treasury Secretary Janet Yellen.
Silicon Valley Bank (SVB), a financial institution with an important client portfolio among technological “startups”; it was finally intervened by the FDIC last Friday due to concerns about its liquidity and solvency. Federal authorities worked over the weekend on possible forms to guarantee the client’s money.
The combination of a possible financial shock with interest rates much higher than expected and a wave of uncertainty is riding on US banks falling on the Ibex 35 last Friday. On Monday this happened again.
