After Germany, most of the banks that are not considered significant are in Austria. About her nevertheless important role.
They were names that hardly anyone had heard of: Silicon Valley Bank, Silvergate Capital and Signature Bank. The small US lenders gained notoriety when they collapsed, sparking market turmoil around the world. The First Republic is still exciting. Shares of the San Francisco lender fell sharply and then rose again. All of them are not systemically important banks, but rather smaller institutions. They are less closely monitored by the US authorities.
This means that small and medium-sized banks are also coming into focus in Europe. “Less Significant Institutions” (LSIs for short) play a key role, especially in Austria.
