CA Department of Financial Protection appointed FDIC as receiver for Silicon Valley Bank. SVB is California bank subsidiary of SVB Financial Group, and member of FDIC and FRS. To protect insured depositors, FDIC created DINB and immediately transferred insured SVB deposits.
The Government and the Bank of England have facilitated a private sale of Silicon Valley Bank UK to HSBC, with no taxpayer support , Chancellor Jeremy Hunt said today.
HSBC buys UK arm of troubled Silicon Valley Bank walesonline.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from walesonline.co.uk Daily Mail and Mail on Sunday newspapers.