Officials were optimistic Irish banks insulated from SVB collapse

The Financial Stability Group heard that some Irish tech firms could experience liquidity issues and loss of credit

The Central Bank was looking at 'the channels of potential spillover' to the Irish financial sector, including to credit institutions and funds. Picture: RollingNews.ie

The Central Bank said it was closely watching for “broader spillover risks” in the aftermath of the collapse of Silicon Valley Bank (SVB).

In meetings of the Financial Stability Group, officials said that direct exposure of the Irish financial system was “minimal” following the bank’s failure.