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The Latest Breaking News from The Bank of England

‘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

A hastily assembled WhatsApp group, then relief: UK tech firms react to SVB

Rescue of Silicon Valley Bank’s British arm followed fears sector would be plunged into crisis

The Guardian - UK

Relief in the UK over Silicon Valley Bank. Panic in the US

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

The Guardian - UK

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OPINION - Tech & Science Daily podcast: Why Silicon Valley Bank UK rescue ‘protects tech industry’

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.

Evening Standard

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

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

OPINION - Controlling inflation is the battle of our times — and fortune will favour the bold

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”…

Evening Standard

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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

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

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

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Wales Online

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.

The Independent UK

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

Birmingham Post

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

Insider UK

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

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Evening Standard

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

Daily Mirror

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.

The Guardian - UK

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

Birmingham Post

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

Warning that science and technology firms face 'serious risk'

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

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