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The Independent UK
The Independent UK
National
Via AP news wire

HSBC will buy UK subsidiary of collapsed Silicon Valley Bank

HSBC United Kingdom Bank of England Silicon Valley Bank UK the UK Treasury
Copyright 2023 The Associated Press. All rights reserved

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 pounds ($8.1 billion) of deposits.

British officials worked throughout the weekend to find a buyer for the UK subsidiary of the California-based bank that failed last week.

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