The banking crisis does not reach France
Reassuring message from the Governor of the Banque de France. In an interview with France Inter, François Villeroy de Galhau indicates that French institutions are resisting the banking crisis. For several days now, the fear of seeing the 2008 crisis repeat itself has been haunting political decision-makers around the world. After Silicon Valley Bank in the United States, Credit Suisse is facing major difficulties. To pass the course, the establishment has just been bought by its main competitor UBS for a pittance.
For the moment, the Banque de France and the Ministry of Economy and Finance indicate that there is no risk of contagion of the crisis to French banks. THE measures put in place after 2008 are effective. Thus, establishments do not fear anything. Moreover, no more than the other banks of the European Union, indicates François Villeroy de Galhau.
problem banks
To go further, the Governor of the Banque de France believes that these two bankruptcies are the result of poor management. The two cases are different. On the one hand, the Silicon Valley Bank was not subject to the same safety rules as French or European establishments. On the other, Credit Suisse’s liquidity problems are not new. For several years, ” it’s a problem bank,” believes François Villeroy de Galhau. Thus, the difficulties of the two entities are not a surprise.
Despite everything, the risk is still taken very seriously by the various global banking and monetary authorities. To avoid any risk of contagion, the main central banks of the planet have just announced measures to facilitate access to liquidity in dollars. Actions already implemented during the Covid period. Thus, the latter should make it possible to curb the phenomenon.