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The Latest Breaking News from The Bank of England

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

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

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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

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…

The National (Scotland)

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

Chancellor Jeremy Hunt said deposits will be protected

The Independent UK

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.

Wales Online

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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

The Independent UK

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

Birmingham Post

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

Insider UK

HSBC buys UK arm of Silicon Valley Bank

Deal is huge relief to UK tech sector, as many as 30% of whom had accounts with SVB

Evening Standard

Jeremy Hunt announces sale of Silicon Valley Bank to HSBC in rescue package

Over the weekend the Chancellor said there was a 'serious risk' to the UK's technology and life sciences sectors as a result of the collapse of Silicon Valley Bank.

Daily Mirror

Silicon Valley Bank: FTSE 100 tumbles 2.5%; HSBC rescues SVB UK – as it happened

Silicon Valley Bank UK has been sold to HSBC, in a deal that protects depositors’ money, says Treasury and Bank of England after weekend talks

The Guardian - UK

Chancellor 'working ‘at pace’ to help UK tech firms after Silicon Valley Bank collapse

Warning that science and technology firms face 'serious risk'

Birmingham Post

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Insider UK

Hunt working ‘at pace’ to help tech firms after Silicon Valley Bank collapse

Warning of 'serious risk' to tech and science firms

Evening Standard

Government to line up Barclays for Silicon Valley Bank UK unit rescue deal

The government is seeking to line up Barclays to take over the UK unit of Silicon Valley Bank (SVB) in a bid to rescue it from liquidation, the Standard has learned.

The Guardian - UK

Hunt budget being overshadowed by Lineker row is no bad thing for chancellor

Wednesday’s announcement will not change big picture for UK economy

The Guardian - UK

UK racing to secure deal to protect firms from Silicon Valley Bank collapse

Rishi Sunak and Jeremy Hunt explore options to help tech and life sciences sectors

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The Independent UK

More than 200 UK firms at ‘serious risk’ from Silicon Valley Bank collapse

Government ‘working at pace’ to limit damage, says chancellor

The Independent UK

From wine country to London, bank's failure shakes worldwide

It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world

The Guardian - UK

Government to meet tech firms following collapse of Silicon Valley Bank UK

Industry leaders expected to call for state intervention to avoid failure of hundreds of UK firms

The Guardian - UK

If the British economy can’t pay better wages, then it must shrink

Vacancies are high, but pay is not rising. Nor will the Bank of England allow it to. That means something else has to give

Evening Standard

New bank considers offer for UK arm of collapsed Silicon Valley Bank

A new bank which has only been in business for two years is considering a bid to buy the British arm of the failed Silicon Valley Bank (SVB), according to reports.

The Guardian - UK

Pensions: why do those retiring face ‘massive’ losses despite FTSE highs?

Retired planner was shocked to see that his Aviva pension had dropped 20% in value last year

Evening Standard

Silicon Valley Bank: Bank of England set to place UK arm into insolvency

Decision comes hours after US arm collapsed

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