French minister tells investors to ‘calm down’ after banks stocks fall

France’s Finance Minister Bruno Le Maire told investors on Monday to “calm down” after stocks in French banks including Societe Generale and BNP Paribas sank following the collapse of US lender Silicon Valley Bank.

“Calm down, calm down, and just have a look at the reality. The reality is that the French banking system is not exposed to the SVB,” Le Maire told reporters in Brussels.