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The Latest Breaking News from HSBC

Paul J. Davies: A full banking crisis isn’t apparent in the SVB wreckage

The market still appears to be hunting for weakness among some smaller U.S. banks and even across Europe after U.S. authorities stepped in to guarantee deposits at Silicon Valley Bank. This makes little sense: There should be no snowballing of runs on banks. But profit expectations could be trimmed at…

Tribune News Service

OPINION - Tech & Science Daily podcast: Why Silicon Valley Bank UK rescue ‘protects tech industry’

The UK branch of Silicon Valley Bank has managed to avoid being declared insolvent by the Bank of England - after being bought by HSBC for £1.

Evening Standard

How savers can keep their money safe when banks collapse

Collapse of Silicon Valley Bank sparks memories of 2007/8 global financial crisis

The Independent UK

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HSBC buys Silicon Valley Bank UK in rescue deal to avoid tech sector chaos

The 11th-hour sale was agreed after all-night talks between the Government and the Bank of England.

The Independent UK

Why did Silicon Valley Bank collapse? And how did HSBC rescue its UK arm?

A weekend of high political drama ends in a rescue deal that leaves fast-growing sector safe in the City

Evening Standard

OPINION - The Standard View: Silicon Valley Bank rescue a relief to London’s tech sector

It seems to be a neat solution to a worrying few days for London’s vital tech industries. HSBC has bought the UK subsidiary of Silicon Valley Bank (SVB) following its collapse on Friday. SVB, which specialised in providing loans to technology firms, was closed down by US regulators last week…

Evening Standard

SVB collapse - latest news: Silicon Valley Bank hit with lawsuit for misleading stockholders after failure

Collapse of Silicon Valley Bank (SVB) marks biggest US bank failure since Washington Mutual during 2008 financial crisis

The Independent UK

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US, UK Try to Stem Fallout from Silicon Valley Bank Collapse

Governments in the UK and US took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon…

Asharq Al-Awsat

US regulators step in to shore up banking sector in wake of SVB's collapse

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full. Elsewhere, the…

France 24

France says no risk of contagion as governments handle SVB collapse fallout

The bankruptcies of US banks Silicon Valley Bank (SVB) and Signature do not pose a danger to French financial institutions, Finance Minister Bruno Le Maire said Monday as authorities in the US and UK took extraordinary steps to stop a potential banking crisis.

France 24

‘My wife was in tears’: tech firms breathe sigh of relief after HSBC saves Silicon Valley Bank UK

‘These companies were on the precipice. If SVB had gone insolvent it would have been utter chaos.’

Evening Standard

FTSE 100 suffers sharp fall as HSBC buys Silicon Valley Bank UK for £1

FTSE 100’s top tier fell nearly 2% in morning trading on Monday

The Independent UK

THG and musicMagpie move to reassure investors as Silicon Valley Bank's UK arm is sold to HSBC

Chancellor Jeremy Hunt has confirmed that all customer deposits have been protected under the deal, and that no taxpayer cash was involved

Birmingham Post

Assets plunge at Phoenix but CEO welcomes SVB rescue

SAVINGS giant Phoenix saw its assets plunge by £46 billion this year due to market turmoil that was only increased by the higher interest rates that followed the Liz Truss mini budget in September.

Evening Standard

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The National (Scotland)

UK arm of collapsed Silicon Valley Bank bought by HSBC

THE UK arm of collapsed US lender Silicon Valley Bank has been bought by HSBC after the Government and Bank of England stepped in to…

Fortune

Not just Silicon Valley: SVB’s collapse spreads globally

It's not just U.S. officials scrambling to understand the repercussions of Silicon Valley Bank's collapse.

Evening Standard

Naked Wines, Trustpilot among UK-listed firms exposed to Silicon Valley Bank

Naked Wines and Trustpilot are among the biggest UK-listed firms with a material exposure to Silicon Valley Bank (SVB), it was revealed today, as businesses rushed to reassure shareholders they had enough cash to survive after the bank’s collapse on Friday.

The Independent UK

HSBC buys UK arm of Silicon Valley Bank after collapse – latest updates

Some 200 UK tech companies had been put at risk by collapse

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The Independent UK

HSBC to buy Silicon Valley Bank UK after weekend of crisis talks

Chancellor Jeremy Hunt said deposits will be protected

Wales Online

HSBC buys UK arm of troubled Silicon Valley Bank with no cost to taxpayer

Silicon Valley Bank's (SVB) possible collapse had posed a serious threat to the tech sector which had deposited large amounts of cash with the bank. HSBC has now bought the UK arm of the struggling bank.

The Independent UK

HSBC will buy UK subsidiary of collapsed Silicon Valley Bank

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

Axios

Silicon Valley Bank's U.K. arm sold to HSBC for £1

Despite its name, the bank best known for serving startups as its customers is a global business, with outposts outside of the U.S.

Birmingham Post

Silicon Valley Bank's UK arm is sold to HSBC to protect customers

Government and Bank of England helped facilitate the deal amid fears that the tech sector would be devastated by the bank's failure

Insider UK

Silicon Valley Bank UK arm is sold to HSBC with all deposits 'safe and secure'

Chancellor says SVBUK customers should 'feel reassured by the strength, safety and security' of HSBC

Evening Standard

FTSE 100 Live: HSBC acquires Silicon Valley Bank UK, lowest FTSE close of 2023

Banking giant HSBC has stepped in to rescue the UK operations of tech sector lender Silicon Valley Bank.

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