The Latest Breaking News from HSBC

‘It was frantic’: the scramble to save SVB UK and avert a banking crisis

A small army worked through the weekend to ensure 3,500 UK customers – largely tech firms – still had cash on Monday

The Guardian - UK · Mar 13, 2023

Big tech has long thought itself above the state. Silicon Valley Bank’s meltdown is stark proof that it isn’t

In the US, the Federal Reserve has stepped in to guarantee deposits. The tech sector should realise it can’t go it alone, says James Ball, of The Bureau of Investigative Journalism

The Guardian - UK · Mar 13, 2023

OPINION - The Leader podcast: HSBC buys collapsed Silicon Valley Bank for £1

Conference call of doom & cash run as start-ups’ bank implodes

Evening Standard · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023

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 · Mar 13, 2023