Collapse of US-based bank has minimal impact on M'sia - Ministry

The exposure of Malaysia’s banking institutions to the collapse of US-based Silicon Valley Bank (SVB) is minimal and limited based on the authorities’ assessment, according to Deputy Finance Minister Steven Sim Chee Keong.

The country’s banking system remains competitive and resilient for continuing its role as an effective financial intermediary, he said during the Ministers’ Question Time in the Dewan Rakyat today.

He was replying to a query from Mohd Syahir Che Sulaiman (PN-Bachok) who wanted to know the early mitigation measures taken by the Finance Ministry, Bank Negara and the Securities Commission to address...