Governments in the UK and U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. 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,
<div class="at-above-post addthis tool" data-url="https://www.metro.us/hsbc-will-buy-uk-subsidiary-of-collapsed-silicon-valley-bank/"></div>NEW YORK (AP) President Joe Biden on Monday told Americans the nation’s financial systems were safe, seeking to project calm following the swift and stunning collapse of two banks that prompted fears of a broader upheaval. “Your deposits will be there when you need them,” he said. U.S. regulators closed the Silicon Valley Bank […]<! AddThis Advanced Settings above via filter on get the excerpt ><! AddThis Advanced Settings below via filter on get the excerpt ><! AddThis Advanced Settings generic via filter on get the excerpt ><! AddThis Share Buttons above via filter on get the excerpt ><! AddThis Share Buttons below via filter on get the excerpt ><div class="at-below-post addthis tool" data-url="https://www.metro.us/hsbc-will-buy-uk-subsidi
NEW YORK (AP) Governments in the U.S. and Britain are taking extraordinary steps to prevent a potential banking crisis after the failure of California-based Silicon Valley Bank prompted fears of a b.