HSBC snaps up Silicon Valley Bank’s UK arm for just £1 to protect depositors
- US bank saved by regulators- UK arm rescued by HSBC- Depositors in both banks safeBanking regulators in the US and the UK moved swiftly over the weekend to limit the potential fall-out from the collapse of Silicon Valley Bank (SIVB:NASDAQ) and Silvergate Capital (SI:NYSE) last week.SVB held deposits belonging to half of all venture-backed startups in the US, according to Bloomberg, and on...