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The Latest Breaking News from Silicon Valley Bank

Cell phones caused Silicon Valley Bank's failure.

A bank panic in the age of Venmo is very different from similar panics in earlier eras.

Fortune

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

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Trump blamed over Silicon Valley Bank collapse for watering down financial regulations

Fifty Republican and 17 Democratic senators voted to reduce regulations on the bank

The Independent UK

Let the bailout debate begin

If a bailout doesn't cost anything, is it really a bailout?

Axios

A risk management nightmare at Silicon Valley Bank

The CFO and board "failed to adequately protect shareholder value," says a former bank examiner for the Federal Reserve.

Fortune

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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Biden raps 2018 bank changes, asks lawmakers to toughen rules - Roll Call

President Biden urged Congress to tighten regulations on the banking sector and criticized a bipartisan 2018 easing of capital rules.

Roll Call

Explained: How Silicon Valley Bank collapsed, and what’s next

Australian markets slid on Monday as the fallout from the collapse of California-based Silicon Valley Bank (SVB) reverberated globally.

The New Daily

Tell us: are you affected by the Silicon Valley Bank collapse?

We’re interested to hear how affected SVB investors and workers in the tech and start-up sector view the bank failure and what the wider implications might be

The Guardian - UK

Federal agencies are saving Silicon Valley, but tech may never be the same

Silicon Valley Bank depositors will be made whole, but startups are losing a key player in the ecosystem.

Fortune

Silicon Valley Bank collapse ‘could force central banks to stop interest rate rises’

Analysts say US Federal Reserve will probably reject further increase in borrowing costs next week

The Guardian - UK

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

Biden will address the nation about the collapse of Silicon Valley Bank

While the Biden administration has no intentions of bailing out the bank, it has introduced emergency measures to protect the US economy and give bank clients access to their funds

The Independent UK

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France 24

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.

The Independent UK

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

Birmingham Post

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

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Axios

Silicon Valley pulls back from bank failure abyss

The feds will rescue the failed bank's depositors, but the tech industry will still take some blows.

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.

ABC News

The collapse of Silicon Valley Bank reveals cracks in a system that leans on government bonds

Unlike the debacle surrounding the collapse of Sam Bankman-Fried's crypto kingdom FTX late last year, the sudden demise of Silicon Valley Bank last weekend has its origins at the other end of the financial spectrum, explains Ian Verrender.

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

The Independent UK

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

Chancellor Jeremy Hunt said deposits will be protected

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