The US Treasury says all deposits in SVB are safe, though, as it sought to reassure customers of America's 16th largest bank, as well as the financial markets.
The chancellor says the sale will provide security to UK customers, including tech firms the government was keen to protect from the bank's demise.'SVB rescue necessary to protect UK tech'
US authorities also announced steps so that the bank's customers are protected, preventing additional bank runs. By guaranteeing that depositors would lose no money, authorities are raising the question of moral hazard - the removal of people's incentive to guard against financial risk.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Silicon Valley Bank collapse threatens UK tech firms after biggest bank failure since 2008Hundreds of UK and European customers, many of them small technology start-ups, have rushed to take their money out of the UK bank, according to emails seen by i
Læs mere »
Ex-Tory donor's bank Oaknorth in talks to buy stricken Silicon Valley Bank UKOaknorth, which was launched in 2015 and counts former chancellor Lord Hammond as an adviser, is plotting a takeover of the stricken UK arm of the tech-focused lender, Sky News learns.
Læs mere »
Bank of London submits rescue bid for UK arm of Silicon Valley BankThe Bank of London has confirmed an offer for SVB UK as start-up founders warned Jeremy Hunt that its collapse will 'cripple' the British tech sector, Sky News learns.
Læs mere »
Silicon Valley Bank UK trouble won't affect other British banks, according to finance ministryA British clearing bank, the Bank of London, was considering a rescue bid for the UK arm of Silicon Valley Bank, as more than 250 UK tech executives signed a letter requesting government intervention.
Læs mere »
UK tech industry urges Downing Street to step in over Silicon Valley Bank collapse\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Læs mere »