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As the banks in the euro area are a little over six thousand, the ECB is incapable to exercise direct supervision over all of them. That is why, it will monitor closely and on a daily basis only those that are defined as systemic. This means that if they fail they could cause a serious crisis. In national terms, such a systemic risk posed the panic withdrawal of deposits from First Investment Bank (FiB) recently after CTB was closed. The panic, for that matter, was provoked by actions that, too, are treated by the CVM - to investigate and isolate the sources of distribution of harmful rumours which means the law enforcement bodies to work impartially to protect citizens and the public interest. Then there was a real threat for the entire financial system in the country. At European level, though, as systemic are understood banks that possess assets worth more than 30 billion euros or their size exceeds 20% of the country's gross domestic product. They are systemic for the common currency not only nationally.
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