The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that …
Governments in the U.S. and Britain are taking extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank. The UK Treasury and the Bank of England “facilitated the sale″ of Silicon Valley Bank UK to HSBC, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits. U.S. regulators also worked all weekend to try to find a buyer for the bank. Those efforts appeared to have failed Sunday. But U.S. officials assured all depositors at the failed institution that they could access all their money quickly.
NEW YORK The U.S. government took steps Sunday to stop a potential banking crisis after the failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly.
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…