HSBC takes over Silicon Valley Bank’s UK unit in rescue deal

Posted by mfiguiere on Monday March 13, 2023 @03:08AM
from the ft.com dept.

https://www.ft.com/content/216b193d-62b3-4e5e-8f67-e8eb3d96ebf1

( 8 comments | 15 points | on HN )

Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by moose_is_loose on Monday March 13, 2023 @03:22AM (#35132258)

I doubt they'll be allowed to complete it due the tech restrictions and it's partial Chinese ownership (Ping An).

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by rich_sasha on Monday March 13, 2023 @03:24AM (#35132279)

It's been brokered by the people who make that call (sort of, not courts, but regulators and governments) so I'd imagine it is a done deal.

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by moose_is_loose on Monday March 13, 2023 @03:27AM (#35132304)

Possible that they've come to some sort of arrangement. Sometimes the left hand hand isn't aware of what the right hand is doing (regulators on either side of the Atlantic are unaware of what is going on across the pond.) Given the tech war, it's hard to imagine a more sensitive institution.

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by di456 on Monday March 13, 2023 @03:30AM (#35132320)

What's the tech war?

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by moose_is_loose on Monday March 13, 2023 @03:33AM (#35132337)

https://www.bloomberg.com/news/articles/2023-03-05/china-emp...

https://www.atlanticcouncil.org/blogs/energysource/beauty-an...

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by hef19898 on Monday March 13, 2023 @03:41AM (#35132393)

What does that have to do with SVB? Or with SVB UK being swallowed by HSBC?

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by moose_is_loose on Monday March 13, 2023 @03:48AM (#35132432)

Look into HSBC and Ping An

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Re:HSBC takes over Silicon Valley Bank’s UK unit in rescue deal by connordoner on Monday March 13, 2023 @05:03AM (#35133008)

More discussion on this at https://news.ycombinator.com/item?id=35132181.

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