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silicon valley bank s collapse on friday has sent shock waves around the world. it s forced central banks and regulators to act. on friday, california banking regulators closed down svb financial group the largest bank failure since the global financial crisis. since then, two other regional banks have also gone bankrupt silvergate, signature bank in new york while first republic was also forced to reassure investors after its shares plunged 60% in pre market trading. in a bid to stem contagion across the industry, the us government stepped in, effectively guaranteeing deposits across the entire banking system, ensuring all account holders will be able to retrieve any funds they have on monday morning. a statement by the us treasury and federal reserve said the plan will ensure the resilience of the broader us banking system. meanwhile here in the uk, hsbc has acquired silicon valley bank uk forjust one pound. the uk govt also said customer deposits will be protected an

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