Enria, no European bank is like Silicon Valley Bank

BRUSSELS - In the

and other US institutions in recent days "it was an extreme exposure to interest rate risk, combined with a concentrated and uninsured business model of depositors".

"We have no reading of these extreme characteristics in European banks."

This was stated by the head of ECB supervision

in a hearing at the Econ commission of the European Parliament.

"The

triggered by the failure of US banks - he added - was further exacerbated by the significant decline in equity prices and the surge

in credit default swap

last week. Although banks in the euro area While the euro saw a decline in equity prices, their funding and liquidity positions were largely unaffected, reflecting the

."