customer deposits
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HSBC acquires British subsidiary of Silicon Valley Bank for £1
It is reported that according to a statement, HSBC acquired the British subsidiary of Silicon Valley Bank for £ 1. As of March 10, the British subsidiary of Silicon Valley Bank had loans of about 5.5 billion euros and deposits of about 6.7 billion pounds. The Bank of England said in a separate statement that it had facilitated the transaction, and customer deposits would be protected, and the transaction did not involve taxpayers’ money. HSBC Holdings: Acquisition of the UK subsidiary of Silicon Valley Bank for £ 1 Analysis based on this information:HSBC, one of the world’s largest banking and financial services organizations, has recently acquired the British subsidiary of Silicon Valley Bank for a nominal fee of £1. According to reports, the British subsidiary of Silicon Valley Bank had loans of around 5.5 billion euros and deposits of about 6.7 billion pounds as of March 10th, 2021. This move comes as no surprise as HSBC, along with other financial…
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Bittrex Transfers Customer Deposits following Silvergate Bank Closure
It is reported that Bittrex, a cryptocurrency exchange headquartered in Seattle, announced that, in view of the recent announcement by Silvergate Bank that the…
