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The Latest Breaking News from SVB

HSBC buys UK arm of troubled Silicon Valley Bank with no cost to taxpayer

Silicon Valley Bank's (SVB) possible collapse had posed a serious threat to the tech sector which had deposited large amounts of cash with the bank. HSBC has now bought the UK arm of the struggling bank.

Wales Online

HSBC buys UK arm of Silicon Valley Bank

Deal is huge relief to UK tech sector, as many as 30% of whom had accounts with SVB

Evening Standard

Silicon Valley Bank: FTSE 100 tumbles 2.5%; HSBC rescues SVB UK – as it happened

Silicon Valley Bank UK has been sold to HSBC, in a deal that protects depositors’ money, says Treasury and Bank of England after weekend talks

The Guardian - UK

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Silicon Valley Bank: why did it collapse and is this the start of a banking crisis?

Until last Friday Silicon Valley Bank was the 16th largest bank in the US, worth more than $200bn

The Guardian - AU

Regulators to protect SVB, Signature depositors, but no bailout - Roll Call

Federal regulators said Sunday they would protect all Silicon Valley Bank depositors, including those above the deposit insurance limit.

Roll Call

J.P. Morgan, PNC among suitors for SVB holding company

Talks exclude the stricken commercial bank, sources told Axios.

Axios

Backstopping SVB's fallout is the first unintended consequence of Fed's zero interest rate experiment

SVB's collapse has triggered a historic reframing of depression-era deposit insurance.

Fortune

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US says all SVB deposits safe, creates new backstop for banks

U.S. authorities raced on Sunday to stem jitters about the health of the nation’s financial system, pledging to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.

Tribune News Service

Biden says those behind SVB bank ‘mess’ will be held accountable

President Joe Biden said that he ordered the Treasury Department and his economic advisers to address the failures of Silicon Valley Bank and Signature Bank, adding that those responsible will be held accountable.

Tribune News Service

SVB Collapse: 'Big Short' Burry Accuses Regulators of Rewarding 'Greed'

U.S. regulators unveiled an emergency plan on Sunday, to avoid contagion from the collapse of Silicon Valley Bank.

The Street

Fed Steps-In With Massive Bank Lending Plan To Stem Contagion From SVB Collapse

The Fed launched a new lending program late Sunday that it hopes will prevent the spread of contagion from the Silicon Valley Bank Collapse.

The Street

Federal Regulators Launch $25 Billion Program to Protect Deposits

Federal regulators will protect deposits at banks through a new program and said all depositors at Silicon Valley Bank would receive their money.

The Street

US stems SVB fallout by backing customer deposits

US officials will shore up deposits to stem any broader financial fallout from the sudden collapse of Silicon Valley Bank.

The New Daily

US plans emergency measures to backstop banks after SVB

The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, as the U.S. seeks to stave off a deeper crisis after SVB Financial Group’s failure.

Tribune News Service

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Fortune

Signature Bank takeover could leave crypto firms scrambling

The Treasury, Federal Reserve, and FDIC jointly announced that depositors would be made whole.

WEKU

The U.S. takes emergency measures to protect all deposits at Silicon Valley Bank

Federal officials made the emergency announcement Sunday amid panic from depositors over the state of uninsured deposits.

The Street

SVB Collapse: U.S. Regulators Pull Out a Bazooka to Avert Disaster

U.S. regulators say that all Silicon Valley bank depositors will get their money back and announced the shutdown of another bank in 48 hours.

The Street

'Our Capital Remains Strong': First Republic Bank Tries to Reassure After SVB Collapse

The regional bank was keen to send a reassuring message to investors and clients, as speculation about contagion from the collapse of Silicon Valley Bank is rife.

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Fortune

More than 1,000 VC, PE, and investment firms held capital at SVB in 2022

General Catalyst, Two Sigma, and Andreessen Horowitz all kept some portion of their billions in fund assets at the bank.

The Independent UK

Biden unlikely to bail out Silicon Valley Bank, as right claims it failed because it was ‘woke’

Second-largest bank collapse in US history met with eyerolls in Washington

The Street

SVB CEO Quietly and Swiftly Removed from Powerful Board

Silicon Valley Bank CEO Greg Becker was a director of the Federal Reserve Bank of San Francisco. He was removed the same day Silicon Valley-based bank collapsed.

The Street

SVB Collapse: Race Against Time to Avert Disaster

U.S. regulators are scrambling behind the scenes on Sunday to find cash for strapped depositors of failed Silicon Valley Bank.

Fortune

After Silicon Valley Bank failure ‘there’s going to be more,’ warns former FDIC Chair William Isaac

“There’s no doubt in my mind," said Isaac. "Seems to me to be a lot like the 1980s.”

WEKU

Janet Yellen says the federal government won't bail out Silicon Valley Bank

The California lender was taken over by regulators after a "run" on the bank. The Treasury secretary says the U.S. won't come to the bank's rescue like it did for others in the 2008 financial crisis.

The Street

SVB Collapse: Regulators Are Reportedly Auctioning Failed Bank's Assets for Cash

Regulators who have ruled out a bailout are looking to find money for depositors before markets open on Monday.

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