Stock Market

Bank of London Considers Rescue Bid for Silicon Valley Bank's U.K. Arm

The Bank of London is reportedly considering a bid to rescue the U.K. arm of Silicon Valley Bank, which recently collapsed. The British clearing bank has hired investment bank Perella Weinberg Partners to advise on its interest in the acquisition.

, and Uzay Erol

March 11, 2023 . 1:29 PM

1 min read

SVB logo inside laptop screen

Bank of England Seeks Court Order for SVB UK

The Bank of England is seeking a court order to place Silicon Valley Bank U.K. into an insolvency procedure. The move comes after U.S. regulators took control of the parent company, SVB Financial Group.

Financial Impacts of SVB Collapse

The collapse of Silicon Valley Bank has had a significant impact on U.S. and European banks. U.S. banks have lost over $100 billion in stock market value, while European banks have shed another $50 billion over the past two days.