On the thirteenth, the British authorities introduced that the British company of the bankrupt American “Silicon Valley Bank” can be acquired by “HSBC”, a significant monetary establishment, and buyer deposits can be protected.
In an announcement, the British authorities mentioned, “The UK subsidiary of ‘Silicon Valley Bank’ has been bought to HSBC. Customers can use deposits and banking providers as typical.’
It additionally defined that this measure was negotiated by the British Central Bank, the Bank of England and the Treasury and that buyer deposits can be protected.
On the opposite hand, HSBC clarified that the acquisition worth of the British company of “Silicon Valley Bank” can be 1 pound, and that the property and liabilities of the mum or dad firm Silicon Valley Bank can be excluded from the acquisition goal.
“We labored urgently to discover a answer that places our prospects comfortable.