Dusseldorf It is the biggest bank failure in the US since the 2008 financial crisis: The Silicon Valley Bank (SVB) was an institution in the American tech sector, but last week it slid into the abyss at record speed.
The shock waves can also be felt in Germany. At the beginning of the week, the Dax temporarily fell below the 15,000 point mark and, as on Friday, bank stocks were among the biggest losers. Some are already reminded of the collapse of the US investment bank Lehman Brothers, which triggered a tremor in the global financial system in 2008.
Just like back then, possible contagion risks for the banking sector are being discussed again. Nevertheless, Wall Street reporter Markus Koch does not see a financial crisis 2.0 looming: “Lehman Brothers had completely different spillover effects from the volumes behind it.” The US regulators reacted very quickly to the SVB and that shows that they already have a lot learned from the financial crisis.
However, the Fed will have to proceed more cautiously: “A week ago we feared a rate hike of up to 50 basis points. That should now be off the table,” says Koch.
Also: Handelsblatt reporter Nadine Schimroszik explains what effects the bankruptcy of the SVB has on German start-ups.
More: You can read everything about the current banking crisis in our news blog
We have an exclusive subscription offer for you as a Handelsblatt Today listener: test Handelsblatt Premium for 4 weeks for 1 € and always stay informed about what’s moving the financial markets. More information is available here.
If you have any comments, questions, criticism or praise for this episode, please email us at: [email protected]
We can now be reached on WhatsApp, Signal and Telegram via the following number: 01523 – 80 99 427