Tag: banking system

HSBC acquires British arm of stricken Silicon Valley Bank

HSBC acquires British arm of stricken Silicon Valley Bank

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SVB (Silicon Valley Bank) logo is seen through broken glass in this illustration taken March 10, 2023. Image for representation purpose only. | Photo Credit: Reuters HSBC said on March 13 it is acquiring the U.K. subsidiary of stricken Silicon Valley Bank for £1, rescuing a key lender for technology start-ups in Britain. “This acquisition […]

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Silicon Valley Bank shut down by regulators; assets seized

Silicon Valley Bank shut down by regulators; assets seized

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Regulators rushed on Friday to seize the assets of one of Silicon Valley’s top banks, marking the largest failure of a U.S. financial institution since the height of the financial crisis almost 15 years ago. Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this week amid anxiety over the […]

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