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KUALA LUMPUR: Malaysia’s government on Wednesday said the country’s banks have limited exposure to Silicon Valley Bank that collapsed last week in the United States, triggering fear of contagion.

“Based on an assessment by authorities in Malaysia, the exposure of local banks to this crisis in the United States is minimal and limited,” Deputy Finance Minister Steven Sim said in parliament.

Malaysia’s banking system remains resilient and continues to carry out its role effectively, Sim said in response to a lawmaker’s question about any local impact from the crisis.

Regular stress tests are carried out within the banking system to ensure Malaysia is prepared to withstand any market pressure, Sim said.

Silicon Valley Bank collapsed on Friday in the biggest US bank failure since the 2008 financial crisis.

HSBC buys failed US bank SVB’s UK arm for £1

Markets and financial authorities worldwide are on edge, with US deposit holders seeking the safety of larger banks amid growing worries about the health of smaller institutions and the prospect of more failures in the sector.

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SAMIR SARDANA Mar 15, 2023 06:34pm
MALAYSIA HAS NIL XPOSURE TO SVB NOT ONLY THAT MALAYSIAN IT COMPANIES HAVE LIMITED EXPOSURE,TO THE US START UP SECTOR - UNLIKE INDIAN IT COMPANIES. WHICH IS Y INDIAN IT STOCKS ARE TANKING ALL THESE SMALL BANKS AND THEIR BRANCHES WILL BE ACQUIRED BY LARGE BANKS AS THESE SPECIALISED BANKS HAVE A BRANCH NETWORK,STAFFING AND CLIENTELE AND LOAN BOOK - FOR THE ACQUIRER TO GROW AND RESTRUCTUFRE ! THE SECOND THE LARGE BANK MAKES THE ACQUISITION, THE REDEMPTION PRESSURE WILL EASE AND SINCE THE ACQUIRER HAS CASH , THERE IS NO NEED TO SELL THE ASSETS OF THE ACQUIRED BANK AND SO THE YTM DEPRECIATION AND DISTRESS SALE WILL NOT BE AN ISSUE UNLESS SOME LARGE BANK FAILS AND THE INDIVIDUALS MAKE A RUN ON BANK CASH - THERE IS NO PROBLEM .SAMIR SARDANA
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