what are the consequences in France?

A plunge into the red, and a banking sector in panic that revive the worst memories of the stock market crash. After the bankruptcy of Silicon Valley Bank, the CAC 40 like the other European stock exchanges unscrewed on Monday 13 March. It is mainly the banking sector that worries, with declines of 4.9% for Crédit Agricole, 7.2% for BNP Paribas and 7.3% for Société Générale. A trend that prompted the Minister of the Economy, Bruno Le Maire, to reassure: “I repeat, there is no specific risk for France”.

A rate increase with serious consequences

But this banking tsunami in the United States is causing a wave of doubts around the world because, as in Washington, the European Central Bank has raised its rates. For the banks, it is therefore very expensive to borrow, which puts them in danger. “The whole problem today is to know what is the sensitivity of such and such a bank to this rise in rates, and the impact that this will have”analyzes Philippe Waetcher, economist at Ostrum Asset Management.