Silicon Valley Bank collapse: HSBC moves to buy SVB subsidiary in the UK

Silicon Valley Bank collapse: HSBC moves to buy SVB subsidiary in the UK

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HSBC has agreed to acquire the UK subsidiary of Silicon Valley Bank for just £1 (€1.13) in a bid to protect the country’s tech sector. The UK Treasury and the Bank of England have “facilitated the sale″ of Silicon Valley Bank UK to HSBC, ensuring the security of £6.7 billion (€7.6 billion) of…

#hsbc #siliconvalleybank #uktreasury #bankofengland #jeremyhunt #signaturebank #treasurydepartment #federalreserve #fdic #firstrepublicbank

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