{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/9475d117-fcd4-4915-a6f3-923941e7aa0d/640f47ed22041a001183eb06?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"HSBC buys collapsed Silicon Valley Bank for £1 ","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/61ba05fc1a8cbed4343cf0e6/5883ea1e-0ebe-4d27-9746-2bf0605b19e6.jpg?height=200","description":"<p>HSBC has snapped up the British arm of Silicon Valley Bank for just £1 in a government and Bank of England-brokered private sale.</p><p><br></p><p>Deal marks the most significant such bailout since the 2008 financial crisis and follows late-night talks over the weekend after the collapse of Silicon Valley Bank’s US parent company, amid concerns about liquidity.</p><p><br></p><p>Chancellor of the Exchequer Jeremy Hunt insisted all deposits for hundreds of UK start-ups have been protected, but the move sparked markets turmoil.&nbsp;</p><p><br></p><p>Insight on the emergency sale and impact on sector with Jesse Griffiths, chief executive of London’s Finance Innovation Lab.</p><p><br></p>","author_name":"The Evening Standard"}