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Silicon Valley Bank UK customer deposits are safe, BOE says

( March 13, 2023, 09:58 GMT | Official Statement) -- MLex Summary: All customer deposits with the UK subsidiary of Silicon Valley Bank are safe, the Bank of England has said, in the wake of organizing a sale of the collapsed lender to the UK subsidiary of HSBC bank. The BOE said the sale was orchestrated to stabilize SVB UK, to ensure the continuity of banking service, minimize disruption to the UK tech sector and support confidence in the financial system.Statement follows....

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