On Monday March 13, 2023, the Bank of England announced that Silicon Valley Bank UK Limited has been sold to HSBC UK Bank Plc. The situation remains fluid, and the following Q&A reflects our understanding as of Monday...more
3/14/2023
/ Acquisitions ,
Bank of England ,
Banking Sector ,
Banks ,
Deposit Insurance ,
Depository Institutions ,
Financial Institutions ,
Financial Services Industry ,
HSBC ,
Insolvency ,
Silicon Valley ,
UK
On Friday March 10, 2023, the Bank of England moved to put the UK arm of Silicon Valley Bank into insolvency after it applied for £1.8bn of liquidity as its parent company was collapsing. The situation remains fluid, and the...more
3/13/2023
/ Bank of England ,
Banking Sector ,
Banks ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Crisis ,
Financial Institutions ,
Insolvency ,
Receivership ,
Silicon Valley ,
UK
On 5 December 2019 the Bank of England (Bank), UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) published coordinated consultation papers and policy on new requirements to strengthen...more
3/12/2020
/ Bank of England ,
Board of Directors ,
Business Continuity Plans ,
CEOs ,
Cloud Computing ,
Consultation Papers ,
Contingency Plans ,
Coronavirus/COVID-19 ,
EU ,
European Banking Authority (EBA) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Market Participants ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Risk Management ,
Security Risk Assessments ,
SMCR ,
Third-Party Service Provider ,
UK ,
UK Brexit