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Transcripts for BBCNEWS BBC News 20240604 05:08:00

of the bank of england, andrew bailey, to discuss the collapse of silicon valley bank, which mostly financed tech start ups. more than 200 companies in the uk had asked ministers to intervene. it s the biggest failure of a us bank since the 2008 financial crisis. well, earlier, ispoke to fintech influencer and commentator theo lau. i asked her what impact the collapse of svb bank was having on the fintech and start up industry. i think at the very moment, the impact is huge. chaos is the word i would use to describe it and it s not pretty. you think about the thousands of start ups, they finance, i think the number is about 44% that went public last year, and they had relationships with most of the start ups, notjust fintech but health tech companies in the us. they are the name in the game, and they are very tech start up friendly, especially the ones

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