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BOE, financial services minister questioned by UK lawmakers on SVB collapse

( March 14, 2023, 14:36 GMT | Official Statement) -- MLex Summary: Lessons must be learned from the collapse of Silicon Valley Bank to ensure post-crisis bank regulation stays strong, UK lawmakers said today. Harriett Baldwin, chair of UK Parliament's Treasury Committee, wrote to Bank of England Governor Andrew Bailey and financial services minister Andrew Griffith with a series of questions on how the event unfolded and what the lessons for financial regulation should be. SVB was sold to HSBC yesterday for one pound, after the BOE used its resolution powers to prevent insolvency and taxpayer input.Statement follows. Letters attached....

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