HSBC buys British arm of collapsed Silicon Valley Bank, deal facilitated by Bank of England and UK government

Amid the collapse and closure of three banks in the United States, HSBC has bought the British arm of the collapsed Silicon Valley Bank, according to a report by The Spectator Index. As per reports, HSBC has bought the UK arm of the collapsed Silicon Valley Bank in a rescue deal. The deal was facilitated by the Bank of England and the UK government.