The managing director of the International Monetary Fund, Kristalina Georgievacalled for caution against the still “increased uncertainty” that prevails in the financial sector, after the bankruptcy of the Californian Silicon Valley Bank (SVB) on March 10 that raised concerns about the resilience of the banking sector in the United States and Europe.

The first victim in Europe was Credit Suissethe rescue of which was achieved by its forced acquisition by the Union des Banques Suisses last Sunday.

“It is clear that risks to financial stability have increased,” Kristalina Georgieva said during the China Development Forum, organized in Beijing by the Chinese government.

“Political actors took decisive action against the risks that threaten financial stability,” Kristalina Georgieva said during her speech. “These measures eased tensions in the markets to some extent, but uncertainty is heightened, which emphasizes the need to remain vigilant,” he said.

The acquisition of Credit Suisse under the “patronage” of the Swiss authorities, as well as the measures taken by the central banks to improve access to liquidity, allowed the avoidance of a climate of panic, without, however, achieving the return of stability to the markets.

Banking stocks continued to fall on the stock markets during Friday.

Recent remarks by European Central Bank President Christine Lagarde about the resilience of the banking system and reassuring statements by French President Emmanuel Macron and German Chancellor Olaf Scholz on Friday failed to calm spirits.

US President Joe Biden said Friday from Ottawa, Canada that banks are in good shape and that he doesn’t see things nearing a tipping point. He admitted, however, that it takes “a little time for the situation to calm down.”