European banks at the bottom of Stoxx 600 index; BAWAG down 9%, Commerzbank down 8%
British bank HSBC to acquire Silicon Valley Bank UK
British bank HSBC will acquire Silicon Valley Bank UK Limited, according to a statement by the Bank of England.
The Bank of England said the action was taken “to stabilise SVBUK, ensuring the continuity of banking services, minimising disruption to the UK technology sector and supporting confidence in the financial system.”
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