President Joe Biden says U.S. banking system ‘safe’, but urges new regulations
1 year, 9 months ago

President Joe Biden says U.S. banking system ‘safe’, but urges new regulations

The Hindu  

President Joe Biden on March 13, 2023 reassured Americans that their banking system is secure in the wake of the collapse of SVB and said he wants tougher regulations to prevent future crises. Your deposits will be there when you need them,” Mr. Biden said in televised remarks from the White House after Silicon Valley Bank’s failure and the federal takeover of a second bank. While the government is ensuring that SVB depositors get their money back, “no losses will be borne by the taxpayers,” Mr. Biden said. “I’m going to ask Congress and the banking regulators to strengthen the rules for banks to make it less likely this kind of bank failure would happen again,” Mr. Biden said.

Bank Biden Silicon Valley Bank Svb Taxpayers Mr  valley  taxpayers  mr  silicon  svb  banks  money  safe  urges  bank  joe  system  regulations  biden  president  banking

History of this topic

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe
10 months, 1 week ago

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe

Daily Mail  

Regional banks are doomed. BEWARE THE COMING REAL ESTATE IMPLOSION New York Community Bancorp made more headlines this week after reporting a surprise loss of $252 million on its commercial real estate loan portfolio in the fourth quarter of 2023 alone. Considering that small firms reportedly hold nearly 70 percent of $2.7 trillion in outstanding commercial real estate loans, it's …

Big bank CEOs warn that new regulations may severely impact economy
1 year ago

Big bank CEOs warn that new regulations may severely impact economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The CEOs of JPMorgan Chase, …

Biden says bank system ‘safe’ after JPMorgan buys First Republic
1 year, 7 months ago

Biden says bank system ‘safe’ after JPMorgan buys First Republic

Al Jazeera  

US president offers assurances after California-based lender becomes third major institution to fail in two months. US President Joe Biden has sought to reassure Americans that the United States banking system is “safe and sound”, after regulators seized California’s troubled First Republic Bank and sold it to JPMorgan Chase in hopes of ending a two-month crisis. The deal, announced early …

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse
1 year, 7 months ago

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse

Live Mint  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have learned," Federal Reserve vice chair for supervision Michael Barr wrote in …

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report
1 year, 7 months ago

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report

News 18  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. “Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation based on what we have learned,” Federal Reserve vice chair for supervision Michael Barr wrote in …

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse
1 year, 7 months ago

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse

Hindustan Times  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. US Federal Reserve admits to failings in Silicon Valley Bank oversight "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have …

How the failure of Silicon Valley Bank might have affected the entire financial system
1 year, 8 months ago

How the failure of Silicon Valley Bank might have affected the entire financial system

Firstpost  

Research suggests that a run-on deposits at Silicon Valley Bank and Signature Bank could have set off a cascading series of bank failures, crippling small businesses and economic activity across wide parts of the country Washington: The federal government’s rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Biden administration and …

Biden calls to revive bank regulations that Trump weakened
1 year, 8 months ago

Biden calls to revive bank regulations that Trump weakened

Associated Press  

WASHINGTON — Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress. The recommended changes outlined by the White House try to put a clear blame on the Trump administration for …

Biden urges US regulators to restore strict rules on midsize banks
1 year, 8 months ago

Biden urges US regulators to restore strict rules on midsize banks

Hindustan Times  

President Joe Biden called on US banking regulators on Thursday to reinstate tougher rules on midsized banks, asserting that the measures would prevent future failures like that of Silicon Valley Bank. Pointing a finger at predecessor Donald Trump, who eased rules for banks between $100 and $250 billion in assets, Biden urged regulators at the Federal Reserve and Federal Deposit …

Fed official: Bank rules under review in wake of SVB failure
1 year, 8 months ago

Fed official: Bank rules under review in wake of SVB failure

Associated Press  

WASHINGTON — The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said Tuesday, but its managers failed to take the steps necessary to fix the problems. The Fed official, Michael Barr, the nation’s top banking regulator, said during a Senate …

Biden says U.S. banks are in good shape, turmoil will ease
1 year, 9 months ago

Biden says U.S. banks are in good shape, turmoil will ease

LA Times  

Regulators are still working to stabilize the banking sector after the collapse of Silicon Valley Bank and Signature Bank. President Biden said he was confident U.S. regional banks were in good shape and didn’t foresee any major crises on the horizon, downplaying Wall Street angst and lingering fears of broader financial turmoil. Business Everything to know about Silicon Valley Bank’s …

Yellen says US prepared to take more action to keep bank deposits safe
1 year, 9 months ago

Yellen says US prepared to take more action to keep bank deposits safe

Live Mint  

US Treasury Secretary Janet Yellen reiterated on Thursday that she was prepared to take further action to ensure that Americans' bank deposits stay safe amid turmoil in the banking system. "As I have said, we have used important tools to act quickly to prevent contagion," Yellen said in remarks to the U.S. House of Representatives Appropriations subcommittee hearing. Separately on …

The global banking turmoil explained; what’s happening at SVB, Credit Suisse
1 year, 9 months ago

The global banking turmoil explained; what’s happening at SVB, Credit Suisse

Live Mint  

It all started on 10 March, 2023 after Startup-focused lender SVB Financial Group became the largest bank failure since the financial crisis, in a sudden collapse that roiled global markets and stranded billions of dollars belonging to companies and investors. At least four major banks, including Societe Generale and Deutsche Bank, are restricting new trades involving Credit Suisse or its …

Biden calls for tougher penalties for execs of failed banks
1 year, 9 months ago

Biden calls for tougher penalties for execs of failed banks

Associated Press  

WASHINGTON — President Joe Biden on Friday called on Congress to allow regulators to impose tougher penalties on the executives of failed banks, including clawing back compensation and making it easier to bar them from working in the industry. “Congress must act to impose tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing.” https://apnews.com/article/business-united-states-government-signature-bank-financial-services-first-republic-76e85af430ca42808eb4d7925fe06c4d Currently the …

What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast
1 year, 9 months ago

What caused the collapse of Silicon Valley Bank, and is there a danger of ‘contagion’? | In Focus podcast

The Hindu  

Last week, California-based Silicon Valley Bank, the 16th largest bank in the United States, collapsed, sending shock waves through the start-up universe. The Biden administration has announced that all the depositors’ savings in the Silicon Valley Bank will be protected, including those deposits over and above the sums that are insured. The Federal Reserve, on its part, has unveiled a …

Explained | What’s next for Silicon Valley Bank?
1 year, 9 months ago

Explained | What’s next for Silicon Valley Bank?

The Hindu  

The story so far: The collapse of the California-headquartered Silicon Valley Bank in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. This morning, the Government and the Bank of England facilitated a private sale …

Silicon Valley Bank Was Not Your Bank
1 year, 9 months ago

Silicon Valley Bank Was Not Your Bank

Slate  

Silicon Valley Bank exploded last Friday, leaving the kind of wreckage that is only possible when people in charge of a financial institution blow it epically. Then inflation became a big thing, and the Federal Reserve raised interest rates, and suddenly SVB’s bond holdings were less valuable, because they were earning interest at lower rates than investors could get elsewhere. …

How Washington came to rescue US banks
1 year, 9 months ago

How Washington came to rescue US banks

Associated Press  

WASHINGTON — After the sudden collapse of Silicon Valley Bank, California Democratic Rep. Maxine Waters started furiously working the phones to find out what was going on with the failed lender — and what would happen to its panicked depositors. Federal Deposit Insurance Corp. officials told Republican senators Monday that they received offers for the bank over the weekend but …

“Threatening our entire economy”: Warren introduces bill to repeal “Trump’s bank law”
1 year, 9 months ago

“Threatening our entire economy”: Warren introduces bill to repeal “Trump’s bank law”

Salon  

This article originally appeared at Common Dreams. Sen. Elizabeth Warren and Rep. Katie Porter unveiled legislation Tuesday to repeal the section of a Trump-era law that weakened regulations for banks with between $50 billion to $250 billion in assets, a move that experts and lawmakers have blamed for the collapse of Silicon Valley Bank and the resulting turmoil. "In 2018, …

Banking stocks steady in aftermath of Silicon Valley Bank collapse
1 year, 9 months ago

Banking stocks steady in aftermath of Silicon Valley Bank collapse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Banking stocks steadied on Tuesday …

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw

Firstpost  

New Delhi: Amid US administration’s move to backstop collapsed Silicon Valley Bank’s deposits, IT minister Ashwini Vaishnaw has said the developments are “reassuring” and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw

Deccan Chronicle  

New Delhi: Amid US administration's move to backstop collapsed Silicon Valley Bank's despoits, IT minister Ashwini Vaishnaw has said the developments are "reassuring" and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

Silicon Valley Bank crisis: Did bank regulators, investors ignore warning signs?
1 year, 9 months ago

Silicon Valley Bank crisis: Did bank regulators, investors ignore warning signs?

Hindustan Times  

With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. Banking experts have been among those alarmed at the rapid collapse of SVB, the country's 16th biggest bank by assets and how its demise became a harbinger of Sunday's failure of another lender, Signature Bank. …

Government races to reassure US that banking system is safe
1 year, 9 months ago

Government races to reassure US that banking system is safe

Associated Press  

NEW YORK — Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall. Just because the government covered for Silicon Valley Bank and Signature Bank “doesn’t mean they are going to cover for …

SVB’s demise: Why didn’t US bank regulators see it coming?
1 year, 9 months ago

SVB’s demise: Why didn’t US bank regulators see it coming?

Live Mint  

With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. President Joe Biden promised a "full accounting of what happened," adding that he would ask regulators and banking regulators to tighten rules on the sector. Banking experts have been among those alarmed at the rapid …

Markets panic as Silicon Valley Bank fallout keeps spreading
1 year, 9 months ago

Markets panic as Silicon Valley Bank fallout keeps spreading

The Telegraph  

Despite specific concerns about these lenders, a domino effect-style crisis of the type seen in 2008 is unlikely given the mechanics of the SVB collapse are sufficiently different. Analysts at JP Morgan concluded: “SVB carved out a distinct and riskier niche than other banks, setting itself up for large potential capital shortfalls in case of rising interest rates, deposit outflows …

Silicon Valley Bank execs, parent company sued after collapse
1 year, 9 months ago

Silicon Valley Bank execs, parent company sued after collapse

Al Jazeera  

Silicon Valley Bank’s parent company and two senior executives are facing a class-action lawsuit in the United States, where shareholders have accused the financial institution of failing to disclose the risks that anticipated interest rate hikes would have on its business. The lawsuit, which accuses SVB of violating federal securities laws, noted that the Federal Reserve, the US central bank, …

Why did Silicon Valley Bank fail and is a financial crisis next?
1 year, 9 months ago

Why did Silicon Valley Bank fail and is a financial crisis next?

Al Jazeera  

Economists see Lehman Brothers-style crisis as unlikely despite jitters following collapse of California-based lender. On Friday, United States regulators seized the assets of the Santa Clara, California-based bank after depositors began withdrawing funds en masse amid fears over the lender’s financial health. Since then, financial regulators around the world have raced to contain the fallout of SVB’s collapse, the biggest …

UK bank stocks sink deep into the red in aftermath of SVB collapse
1 year, 9 months ago

UK bank stocks sink deep into the red in aftermath of SVB collapse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London’s FTSE 100 index sank …

On Silicon valley bank crisis, Joe Biden's message to US taxpayers is...
1 year, 9 months ago

On Silicon valley bank crisis, Joe Biden's message to US taxpayers is...

Hindustan Times  

President Joe Biden on Monday reassured Americans that their banking system is secure in the wake of the collapse of SVB and said he wants tougher regulations to prevent future crises. Your deposits will be there when you need them," Biden said in televised remarks from the White House after Silicon Valley Bank's failure and the federal takeover of a …

Biden urges confidence in banks after collapse, bats for strengthening of rules
1 year, 9 months ago

Biden urges confidence in banks after collapse, bats for strengthening of rules

Live Mint  

Following the collapse of two major banks within days of each other, President Joe Biden insisted on Monday that Americans could still 'have confidence' that US banking was safe. The POTUS also said that he was ‘going to ask Congress and regulators to strengthen bank rules’. It is however pertinent to note here that President Biden faces a divided Congress …

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains
1 year, 9 months ago

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains

Live Mint  

Zerodha founder and investor Nithin Kamath said the lesson for the fallout of Silicon Valley Bank or the most recent collapse of a mid-sized Yes Bank in the Indian context is to have funds, especially working capital, distributed across a bunch of banks. Take a look at his tweet: The collapse of the Silicon Valley Bank has rocked the markets, …

HSBC buys UK arm of Silicon Valley Bank for ₹99, gets deposits worth US$ 8.1bn
1 year, 9 months ago

HSBC buys UK arm of Silicon Valley Bank for ₹99, gets deposits worth US$ 8.1bn

Hindustan Times  

The British government on Monday said it had facilitated a private sale of the United Kingdom arm of the collapsed Silicon Valley Bank to HSBC Holdings Plc's 'ring-fenced subsidiary' - with help from the Bank of England - for 1 pound sterling, or around ₹99. HSBC is Europe's largest bank, and SVB UK customers should feel reassured by the strength, …

Biden Says Those Responsible Will Be Held Accountable after Regulators Shut Down Signature Bank
1 year, 9 months ago

Biden Says Those Responsible Will Be Held Accountable after Regulators Shut Down Signature Bank

News 18  

US President Joe Biden said action will be taken against those who were responsible for the banking crisis in the country, shortly after regulators closed Signature Bank, a New York-based regional-size lender. American banking regulators rushed to close the Silicon Valley Bank, a financial institution with more than $200 billion in assets, on Friday. “At my direction, Yellen and my …

SVB depositors protected: Read full statement by Treasury, US Fed and FDIC here
1 year, 9 months ago

SVB depositors protected: Read full statement by Treasury, US Fed and FDIC here

Live Mint  

After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, Treasury Secretary Janet Yellen on Sunday approved actions enabling the FDIC to complete its resolution of the Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors, an official statement said. California-based Silicon Valley Bank, …

No bailout for SVB, US govt to help depositors recover money
1 year, 9 months ago

No bailout for SVB, US govt to help depositors recover money

Live Mint  

NEW YORK : The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down. In an effort to shore up confidence in the banking system, the Treasury …

Silicon Valley Bank depositors will have access to their money starting Monday: Treasury Secretary
1 year, 9 months ago

Silicon Valley Bank depositors will have access to their money starting Monday: Treasury Secretary

The Hindu  

In a step aimed at protecting the U.S. economy by strengthening public confidence in the country’s banking system, the Biden administration announced that depositors of the Silicon Valley Bank will have access to their money from Monday. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, Treasury Secretary …

US authorities rush to contain Silicon Valley Bank fallout; President Joe Biden vows to fix 'this mess'
1 year, 9 months ago

US authorities rush to contain Silicon Valley Bank fallout; President Joe Biden vows to fix 'this mess'

Firstpost  

In a joint statement, financial agencies including the US Treasury said SVB depositors would have access to ‘all of their money’ starting Monday, 13 March, and that American taxpayers will not have to foot the bill Washington, United States: US authorities unveiled sweeping measures Sunday to rescue depositors’ money in full from failed Silicon Valley Bank and to promise other …

'…for this mess': Joe Biden reacts as Signature Bank closed after SVB’s failure
1 year, 9 months ago

'…for this mess': Joe Biden reacts as Signature Bank closed after SVB’s failure

Hindustan Times  

US President Joe Biden on Sunday vowed to hold “fully accountable” the people responsible for the failure of Silicon Valley Bank and a second financial institution, Signature Bank. Biden said he planned to speak about the US banking system on Monday morning, to reassure Americans after the failures of Silicon Valley Bank and Signature Bank. "I will deliver remarks on …

Banking stocks plummet on fears of SVB contagion
1 year, 9 months ago

Banking stocks plummet on fears of SVB contagion

The Telegraph  

The crisis in the banking industry was at risk of spreading last night after US President Joe Biden failed to fully reassure financial markets following the collapse of Silicon Valley Bank. Regional US lenders, including California’s First Republic Bank, Arizona’s Western Alliance Bank and Los Angeles-based PacWest, all saw their share prices plunge by more than half on Monday. It …

Biden says banking system is safe, promises accountability for Silicon Valley Bank failure
1 year, 9 months ago

Biden says banking system is safe, promises accountability for Silicon Valley Bank failure

LA Times  

Biden blames Trump for scaling back regulations, which he said contributed to the collapse of Silicon Valley Bank and the closure of Signature Bank. As stocks opened a jittery day of trading that brought large losses for some regional banks, notably San Francisco-based First Republic, President Biden declared the underlying banking infrastructure “safe and secure” from aftershocks brought about by …

At SXSW, an unexpected banking crisis disrupts a tech-world tradition
1 year, 9 months ago

At SXSW, an unexpected banking crisis disrupts a tech-world tradition

LA Times  

In downtown Austin, TX, the streaming and hardware company Roku recreated its popular “Roku City” screen-saver for South By Southwest attendees to wander through. Shannon Brownlee, another attendee at the AI meet up, said that although her communication tech company Valence Vibrations didn’t keep its own money in Silicon Valley Bank, outside investors who had previously expressed interest in her …

US, UK try to stem fallout from Silicon Valley Bank collapse
1 year, 9 months ago

US, UK try to stem fallout from Silicon Valley Bank collapse

Al Jazeera  

US President Joe Biden says banking regulations must be bolstered amid fallout that has rocked global financial markets. The bank’s financial health had been under scrutiny following its announcement of plans to raise $1.75bn in the capital after the loss-making sale of bonds In a brief news conference on Monday, US President Joe Biden sought to dispel concerns, saying “all …

Biden offers assurances after major US banks collapse
1 year, 9 months ago

Biden offers assurances after major US banks collapse

Al Jazeera  

President says banking system is ‘safe’ but will seek accountability after second largest failure in US history. US President Joe Biden has sought to dispel fears over a potential financial crisis following the rapid collapse of two major United States banks, saying customers would be protected and can trust that the country’s banking system is “safe”. On Monday morning, Biden …

Biden says Americans can "rest assured" banking system is secure after SVB collapse
1 year, 9 months ago

Biden says Americans can "rest assured" banking system is secure after SVB collapse

CBS News  

Biden says banking system safe after two banks fail in a matter of days Washington — President Biden on Monday sought to reassure Americans that they can have confidence in the U.S. banking system following the collapse of Silicon Valley Bank and quell any concerns about the fallout from its abrupt failure. The president also called for a "full accounting" …

Silicon Valley Bank crash: Anupam Mittal expects ‘doomsday predictions’ to fail. Here's why
1 year, 9 months ago

Silicon Valley Bank crash: Anupam Mittal expects ‘doomsday predictions’ to fail. Here's why

Hindustan Times  

Sharing his opinion on the Silicon Valley Bank situation, Shaadi.com founder Anupam Mittal said the US government will ensure no ‘doomsday prediction’ plays out, as the issue has ‘serious political ramifications’ due to next year's presidential election. Police officers leave Silicon Valley Bank's headquarters in Santa Clara, California. Anupam Mittal's LinkedIn post Responding to the Shaadi.com founder, a user, Ashish …

U.K. Prime Minister Rishi Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse
1 year, 9 months ago

U.K. Prime Minister Rishi Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse

The Hindu  

British Prime Minister Rishi Sunak said on March 12 he recognised the "anxiety" over the collapse of Silicon Valley Bank but his government was working to find a solution that will secure customers' liquidity and cashflow needs. Mr. Sunak told journalists travelling to the United States that he understood "the anxiety and the concerns customers of the bank have" and …

‘We won’t do that again': US rules out federal bailout for Silicon Valley Bank
1 year, 9 months ago

‘We won’t do that again': US rules out federal bailout for Silicon Valley Bank

Hindustan Times  

Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money. Silicon Valley Bank began its slid into insolvency when its customers, largely technology companies that needed cash as they struggled to get financing, began withdrawing their deposits. Yellen described rising interest …

Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor
1 year, 9 months ago

Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor

Hindustan Times  

Britain's technology and life sciences sectors are at "serious risk" following the closure of the Silicon Valley Bank, Chancellor Jeremy Hunt warned on Sunday. "There is a serious risk to our technology and life sciences sectors, many of whom bank with this bank," Hunt said in an interview with British television channel Sky News. Hunt said the governor of the …

Discover Related