BaFin orders moratorium on Silicon Valley Bank Germany Branch
The Federal FinancialSupervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht- BaFin) has issued a ban today for Silicon Valley Bank Germany Branch on disposals and payments, as the institution is at risk of being unable to meet its obligations towards its creditors. In addition, BaFin has ordered that the bank be closed for business with customers (“moratorium”). BaFin’s measures are immediately enforceable but not yet final.
