HSBC says it has acquired Silicon Valley Bank UK
between the government, regulators, and prospective buyers for the UK business over the weekend.
As of March 10, Silicon Valley Bank UK Limited had loans of around 5.5 billion pounds and deposits of around 6.7 billion pounds, HSBC said.The transaction completes immediately, the bank added. Unlike the United States, Britain has not announced broader liquidity measures for the banking system.
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