Illustrative image of destroyed SVB (Silicon Valley Bank) logo. REUTERS/Dado Ruvic

FRANKFURT, March 13 (Reuters) – German financial regulator BaFin said on Monday it had imposed a moratorium on the German subsidiary of Silicon Valley Bank over its crisis, saying the subsidiary had no “systemic relevance”.

The bank opened a small branch in 2018 after obtaining a lending license.

BaFin said the situation did not pose a “threat to financial stability”.

SVB’s Frankfurt branch had assets of 789 million euros ($841.86 million) at the end of last year, according to BaFin.

SVB officials in Frankfurt did not respond to requests for comment.

(1 US dollar = 0.9372 euro)

(Reporting by Tom Sims and Marta Orosz; Spanish edited by Benjamín Mejías Valencia)

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