The Latest Breaking News from HSBC

Collapse of Silicon Valley Bank sparks memories of 2007/8 global financial crisis

The 11th-hour sale was agreed after all-night talks between the Government and the Bank of England.

The US Treasury, Federal Reserve and Federal Deposit Insurance Corporation have unveiled a plan meant to stem any contagion from Silicon Valley Bank's (SVB) failure on Friday. The Federal Reserve will provide an emergency lending facility that will ensure all of the bank's depositors are repaid in full. Elsewhere, the…

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.

‘These companies were on the precipice. If SVB had gone insolvent it would have been utter chaos.’

FTSE 100’s top tier fell nearly 2% in morning trading on Monday

Chancellor Jeremy Hunt has confirmed that all customer deposits have been protected under the deal, and that no taxpayer cash was involved

SAVINGS giant Phoenix saw its assets plunge by £46 billion this year due to market turmoil that was only increased by the higher interest rates that followed the Liz Truss mini budget in September.

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…