The Latest Breaking News from The Bank of England

Sale of SVB’s British subsidiary to HSBC is a satisfactory fix but Fed emerges with less of a worthy halo

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.

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

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

The Bank of England appears to be as confused as everybody when it comes to the outlook for interest rates. At the beginning of the month, a speech by the Bank’s Governor Andrew Bailey triggered hugely conflicting headlines. They ranged from “Bailey downplays talk of sharp rise in interest rates”…

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

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…

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.

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

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

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…