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FRANCE24

HSBC buys failed US bank SVB's UK arm for £1 • FRANCE 24 English

FRANCE24, 13 Mar 2023
The UK arm of failed US lender Silicon Valley Bank has been bought by HSBC for a nominal £1 ($1.2) in a rescue deal, the government and HSBC announced Monday. The sale, overseen by the Bank of England and the Treasury, comes after SVB collapsed Friday sparking panic in Britain over its key customers in the technology and life science sectors.
#HSBC #SVB #UK

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