The CBS said the March 2023 banking crises in the USA that has seen the collapse of two of its major regional banks and lenders with ties to the technological start-up industry (the Silicon Valley Bank and the Signature Bank) as well as the winding down of operations of crypto-focused Silvergate Bank have no direct impact on Samoa’s banking system to date.
Similarly, the four licensed commercial banks (2 local banks and 2 foreign subsidiary banks) in Samoa have no direct banking relationships with the failed Credit Suisse Bank in Switzerland, CBS said in a statement.
