British MPs query ringfencing exception in HSBC’s purchase of SVB UK
HSBC purchased SVB UK for £1 on 13 March as part of a rescue plan organised by the Bank of England (Credit: Jeanette Tier on shutterstock)
The terms of HSBC’s £1 purchase of Silicon Valley Bank UK are coming under scrutiny from UK lawmakers, who have questioned why HSBC required exemptions from the UK’s ringfencing regime as a condition of the transaction.
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