HSBC to buy UK arm of Silicon Valley Bank

Startup founders had feared collapse

clock • 3 min read
UK tech firms await government support after Silicon Valley Bank collapse
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UK tech firms await government support after Silicon Valley Bank collapse

Several British tech firms are breathing more easily, following HSBC's announcement that it would purchase Silicon Valley Bank's (SVB) UK arm.

The government and Bank of England stepped in to facilitate the sale, for a nominal sum of £1. The Chancellor, Jeremy Hunt, says the deal has protected all customer deposits without involving ta...

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