BOE places the UK arm of the troubled Silicon Valley Bank under insolvency. The heads of 130 technology companies in the UK believe lender’s bankruptcy represents an existential threat to the UK tech sector. The UK is racing ahead of the clock to salvage the British arm of the collapsed Silicon Valley Bank after it […]
The heads of 130 technology companies in the UK believeThe UK is racing ahead of the clock to salvage the British arm of the collapsed Silicon Valley Bank after it sent jitters through the startup scene of the country.
It should be noted here that SVB restructured its UK branch into a separate bank subsidiary in August last year following the branch reaching £100 million of insured small business deposits, SVB’sWell, in the wake of recent developments, The Bank of England said it would place the UK subsidiary into insolvency. “
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