UK government and BOE confirms to have facilitated sale of SVB UK to HSBC

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UK government and BOE confirms to have facilitated sale of SVB UK to HSBC

<ul><li>Deposits will be protected, with no taxpayer support</li><li>The announcement supersedes statement that intended to mark SVB UK as insolvent</li><li>No other UK banks are directly materially affected by these actions</li></ul><p style="" class="text-align-justify">The good news here is that at least the BOE won't have to resort to Fed-style intervention to deal with the fallout domestically. We should also likely see a sale take place in the US too in the coming days to arrest the fallout even more.</p>

                This article was written by Justin Low at www.forexlive.com.

Source: UK government and BOE confirms to have facilitated sale of SVB UK to HSBC

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