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Jeremy Hunt on HSBC buying UK arm of collapsed Silicon Valley Bank

HSBC has agreed to buy the UK arm of the collapsed US Silicon Valley Bank (SVB), the government has announced.

Chancellor of the Exchequer Jeremy Hunt said customers who have money deposited in UK branch of SVB will be able to access their funds.

The Treasury said the deal with HSBC involved no taxpayer.

Read more on this story here.

13 March 2023

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