ECB Governing Council member Pierre Wunsch does not expect a repeat of the 2008 financial crisis despite the turbulence caused by the collapse of Silicon Valley Bank (SVB), arguing that European banks were subject to stricter rules than regional US banks.

Bank stocks globally have come under pressure since SVB collapsed and Switzerland's Credit Suisse was forced to use $54 billion in central bank funding, raising questions about other weaknesses in the financial system, Investor reports.

"We don't have any information that suggests that European banks are vulnerable," Wunsch, who is also the governor of the Belgian central bank BNB, told the Belgian newspaper L'Echo.

"If you look at Belgian banks, they are in a better position than the average of European banks. That is why it is very difficult to imagine a repeat of the financial crisis," said Wunsch.

According to him, it is crucial to distinguish between Europe and the US, where the looser application of capitalization rules has allowed some regional banks to take higher interest rate risks than would be allowed in Europe.

"It is important to distinguish between Europe, where banks are subject to certain rules, and the United States - where Credit Suisse, in my opinion, is a special case," he said.

"We see neither a risk of volatility spreading nor a risk of volatility if we look at the numbers from a rational perspective," the central bank governor said.

Asked about Credit Suisse's future, Wunsch said he sees only a "very small" likelihood of the bank going bankrupt.

"First of all, the situation in itself is not that bad, and secondly, the Swiss authorities would intervene in time if necessary because it is a bank of systemic importance," said the Member of the Governing Council of the ECB, Pierre Wunsch.