SVB collapse has minimal impact on Malaysia's banking system, Dewan Rakyat told

A customer is escorted into the Silicon Valley Bank headquarters in Santa Clara, California. - REUTERS/Brittany Hosea-Small/File Photo/File Photo

KUALA LUMPUR: The collapse of Silicon Valley Bank - the second largest bank failure in US history - has minimal and limited impact on Malaysia's banking institutions, says Deputy Finance Minister Steven Sim.

He told the Dewan Rakyat that based on the assessment by local financial authorities, the Malaysian banking system remains competitive and resilient.