Nordic countries an unlikely loser as Europe weighs SVB damage

United States News News

Nordic countries an unlikely loser as Europe weighs SVB damage
United States Latest News,United States Headlines
  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 90%

Norway’s sovereign wealth fund and a Swedish pension giant revealed heavy exposures, while European bank stocks tumbled and Germany shut the local SVB branch.

| Two giant Nordic funds have emerged as Europe’s surprise losers in the collapse of US lenders Silicon Valley Bank and Signature Bank, while investors in European banking stocks took a severe haircut on Monday.

Sweden’s financial regulator is now probing Alecta’s exposure, after the fund recently opted to step up its investments in the niche lenders while selling its holdings of the more prudent Swedish player Handelsbanken. European banking stocks were the primary driver, plunging 5.7 per cent as investors worried about contagion risk.

“There is a possibility of indirect contagion, but at the moment we do not see this as a specific risk,” EU Economic Commissioner Paolo Gentiloni told reporters.France’s Bruno Le Maire called on investors to “calm down”, saying the SVB situation was “unique”.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FinancialReview /  🏆 2. in AU

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank runs expected as SVB collapse upends rate forecastsBank runs expected as SVB collapse upends rate forecastsBank runs and sharemarkets routs following the second-biggest bank collapse in US history has financial markets reassessing their bets on the Federal Reserve’s next interest rate moves.
Read more »

Could there be an SVB style run on Australian banks?Could there be an SVB style run on Australian banks?Local players have learnt the lessons of the global financial crisis and put considerable effort into change. But it would be naive to give them the all clear.
Read more »

SVB collapse offers a salutary monetary policy lessonSVB collapse offers a salutary monetary policy lessonMonetary policy can only ignore fundamentals – or indulge crank theories – for so long before ultimately having to pay a price for restoring normalcy to the price of money.
Read more »

The sectors most at risk of ‘extinction’ from SVB contagionThe sectors most at risk of ‘extinction’ from SVB contagionBillionaire Bill Ackman and venture capitalist veterans warn the Silicon Valley Bank collapse threatens to wipe out tech companies and smash smaller banks.
Read more »

Canva among local firms scrambling amid SVB falloutCanva among local firms scrambling amid SVB falloutThe now-defunct bank made a concerted push to expand its client base in Australia in the past two years, attracting a raft of companies to use its services.
Read more »

Yellen pledges help for SVB depositors but says no to bailoutYellen pledges help for SVB depositors but says no to bailoutThe US Treasury Secretary says the collapse of Silicon Valley Bank is very different from the global financial crisis almost 15 years ago.
Read more »



Render Time: 2025-04-07 23:02:31