Silicon Valley Bank collapsed with astounding speed on Friday. Investors are now on edge about whether its demise could spark a broader banking meltdown. The US federal government has stepped in to guarantee customer deposits, but SVB’s downfall continues to reverberate across global financial markets. The government has also shut down Signature Bank, a regional bank that was teetering on the brink of collapse, and guaranteed its deposits.
buy the UK business for £1? stepped in Monday to buy SVB UK for £1 , securing the deposits of thousands of British tech companies that hold money at the lender. Had a buyer not been found, SVB UK would have been placed into insolvency by the Bank of England, leaving customers with only deposits worth up to £85,000 — or £170,000 for joint accounts — guaranteed. The
rescue is “fantastic news” for the UK startup ecosystem, said Piotr Pisarz, the CEO of Uncapped, a financial tech startup that lends to other startups. “I think we can all relax a bit today,” he told CNN. In a statement, CEO Noel Quinn said the acquisition “strengthens our commercial banking franchise and enhances our ability to serve innovative and fast-growing firms, including in the technology and life science sectors, in the UK and internationally.”
Don’t believe a word CNN spews; proven liars. Repeated liars are children of satan
If you would require the Bank CEOs and CFOs as well as the board of directors to include all of their assets and retirement funds as part of the funds that are seized when a Bank fails, then they might get cautious about investing again.
Go woke go BROKE?
This means the failure of Biden, and once again let the public know that banks are not 100% safe, and if you have more than $250,000 in property, you must not deposit all of it in the bank.
You can't use dollars to support abortion God is against it.
We already know what happened.
Go Woke Go Broke
But Trump. Right ?
Regulations rolled back. Bankers are libertarians on the way up, and socialists on the way down eh? Privatizing profits and socializing losses
Silicon Valley Bank collapsed for two days, Signature Bank collapsed.