HSBC buys collapsed Silicon Valley Bank for £1

<p>HSBC has snapped up the British arm of Silicon Valley Bank for just £1 in a government and Bank of England-brokered private sale.</p><br><p>Deal marks the most significant such bailout since the 2008 financial crisis and follows late-night talks over the weekend after the collapse of Silicon Valley Bank’s US parent company, amid concerns about liquidity.</p><br><p>Chancellor of the Exchequer Jeremy Hunt insisted all deposits for hundreds of UK start-ups have been protected, but the move sparked markets turmoil.&nbsp;</p><br><p>Insight on the emergency sale and impact on sector with Jesse Griffiths, chief executive of London’s Finance Innovation Lab.</p><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>