Department of Finance ‘monitoring developments’ of collapsed Silicon Valley Bank

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The Departmenrt said there is 'limited direct impact on the Irish financial system'.

THE DEPARTMENT OF Finance is “monitoring developments regarding the collapse of Silicon Valley Bank”.It had been a key lender to startups across the United States since the 1980s

While the Department of Finance said there is “limited direct impact on the Irish financial system”, a statement from the Department notes that “Silicon Valley Bank was a lender to some Irish companies since 2012”. A statement from ISIF added: “The distributions received by ISIF from these investments since 2012 exceed the amount currently invested.

 

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They don't know that yet. The dominos have just started to fall.

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