The Ibex 35 opens lower, weighed down by the banks, after the intervention of the SVB in the US

March 13 () –

The Ibex 35 has started the session this Monday with a decrease of 0.14%, which after 25 minutes expanded to 1%, dragged down by the banks, which once again led the decreases after the intervention of Silicon last Friday Valley Bank (SVB), which has been acquired by the UK subsidiary of HSBC for one pound (1.13 euros).

Specifically, the Madrid selective was placed at 9:25 a.m. slightly below 9,200 points after having started the session at 9,272 points, pending both the situation of the bank in the United States and the meeting that the Eurogroup will hold this Monday. .

The United States Department of the Treasury yesterday ordered the Federal Deposit Insurance Corporation (FDIC) to guarantee the funds of Silicon Valley Bank clients, to which they will be able to access starting today.

“Depositors will have access to all their money starting Monday, March 13. Any loss associated with the Silicon Valley Bank resolution will be borne by the taxpayer,” according to a joint statement from the US Treasury, the FDIC and the Federal Reserve, which they point out that shareholders and some unsecured debtors will not be protected.

The objective is to “guarantee public confidence in the banking system of the United States,” said US Treasury Secretary Janet Yellen.

The Silicon Valley Bank (SVB), a financial institution with an important client portfolio among technology ‘startups’, was finally intervened by the FDIC last Friday due to doubts about its liquidity and solvency.

Federal authorities have been working over the weekend on possible formulas to guarantee client funds.

The combination of the possible economic impact of interest rates much higher than expected and the bearish wave unleashed in US banks dragged down the banking sector in the Ibex 35 last Friday. At the opening of this Monday it has happened again.

Thus, at around 9:20 a.m., the biggest falls in the Madrid selective were recorded by Sabadell (-4%), Bankinter (-3.2%), Unicaja (-2.77%), Santander (-2%), Mapfre (-1.9%), BBVA (-1.56%) and CaixaBank (-1.43%).

The rest of the European stock markets have opened this Monday with falls: London and Frankfurt lost 0.8% at 9:25 am, while Milan dropped 1.6% and Paris lost almost 0.9%.

The price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 83.06 dollars at the opening of the European markets, with a rise of 0.3%, while Texas was trading at 77 dollars, 0.4% more.

In the foreign exchange market, the price of the euro against the dollar stood at 1.0724 ‘green bills’, while in the debt market, the interest required on the ten-year bond fell to 3.490%.