SVB UK
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JPMorgan Chase: There is no obvious synergy between HSBC Holdings and the UK branch of Silicon Valley Bank
It is reported that JPMorgan Chase published a research report that HSBC Holdings announced the acquisition of SVB UK, a British branch of Silicon Valley Bank. Although the indicated purchase price is £ 1, the actual price depends on the amount of the capital gap of SVB UK. The bank believes that there is no obvious synergy between HSBC and the UK branch of Silicon Valley Bank, and it can be regarded as a national service act to prevent the liquidity risk of small UK banks. JPMorgan Chase mentioned that…
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The Bank of England has closed the UK branch of the Bank of Silicon Valley
It is reported that although several UK venture capital companies expressed support for the Bank of Silicon Valley UK (SVB UK), the Bank of England (BoE) announced to stop its operation and said that the bank was “limited” and did not support the “key functions” of the UK financial system. The Bank of England explained that according to the country’s Financial Services Compensation Scheme (FSCS), “eligible depositors” would be paid a “protected limit” of up to 85000 pounds (approximately US $102288) or up to 170000 pounds (approximately US $204577). Interpretation…
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The British subsidiary of Silicon Valley Bank said that it had a separate balance sheet independent of its parent company
On March 11, the British subsidiary of the Bank of Silicon Valley said that the subsidiary was a “separately operated banking institution” and was under the management of the British regulatory authority PRA. The subsidiary said that Silicon Valley Bank UK (SVB UK) has been a separate subsidiary since August 2022. Its balance sheet is separate from Silicon Valley Bank Financial Group, and it has an independent UK board of directors. The funds from customer deposits are managed in the UK. Interpretation of this information: The message states that the…
