Silicon Valley Bank collapse: 'Serious risk' to tech sectors from failure, chancellor warns

Mr Hunt told Sky News' Sophy Ridge On Sunday programme:"The Bank of England has made it very clear there is no systemic risk to our financial system, so people should be reassured on that basis."It happens to look after the money of some of our most promising and exciting businesses.

"We are working at pace on a solution we will bring forward very soon plans to make sure people are able to meet their cashflow requirements, pay their staff. "But obviously what we want to do is to find a longer-term solution that minimises or even avoids complete losses to some of our most promising companies."Mr Sunak said:"We have been working through over the weekend."We're working to recognise the anxiety and the concerns customers of the bank have and making sure we can work to find a solution that secures people's operational liquidity and cash-flow needs. And that's what the Treasury is working on.

Former Tory chancellor Lord Hammond said:"This is a very important dynamic sector and we don't want to see it suffer a massive own goal here."Meanwhile, US treasury secretary Janet Yellen said she was working closely with banking regulators to respond to the collapse and protect depositors, but a major bailout was not being considered.

She told CBS News:"Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out...and the reforms that have been put in place means we are not going to do that again.Subscribe to Sophy Ridge on Sunday on

Got to take care of all the elites we were banking there and this Old Crow she was probably around when they came up with money

She is just another American Terrorist just like Trump and Biden. Plus they are Traitors to our country

Enroute to a digital currency

Here we go again.

Capitalism would let the banks fail and lessons to be learnt. But the socialists in governments bail these companies out, no lessons are learnt and the cycle beings again.

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Silicon Valley Bank collapse: UK tech firms at 'serious risk' from failure, warns Chancellor Jeremy HuntJeremy Hunt tells Sky News he has been holding talks over the weekend with Rishi Sunak and the central bank's governor Andrew Bailey , and says they are 'absolutely determined' to do everything they can to support businesses impacted. RidgeOnSunday Hope you’ve all got a plan b. Fiat and the housing market is about to cause a domino effect on the markets. RidgeOnSunday RidgeOnSunday Which is to steal public’s money from them to bail them out. Check your bank rules ‘it may be necessary to limit the amount in your account, due to circumstances affecting the banking industry’, if you haven’t woken up yet, do it now
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Tech sector at ‘serious risk’ as Silicon Valley Bank collapsesThe Chancellor has been locked in talks with the Prime Minister and the Governor of the Bank of England to come up with an emergency cash lifeline to help British tech firms, following the collapse of Silicon Valley Bank UK. JaneDodgeC4 has the latest. JaneDodgeC4 Money for a failed private enterprise, but not for ordinary workers. More tory corruption. JaneDodgeC4 Why haven’t the Chancellor and the PM been locked in talks with NHS staff and teachers? JaneDodgeC4 absolutely no no more neo-liberalism it's not even a fucking uk company categorically NO
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Bank of England puts UK arm of Silicon Valley Bank into resolution\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t SVBCrash svb_financial in the following weeks many fintech will be in trouble 😔
Source: FT - 🏆 113. / 51 Read more »

Silicon Valley Bank collapse threatens UK tech firms after biggest bank failure since 2008Hundreds of UK and European customers, many of them small technology start-ups, have rushed to take their money out of the UK bank, according to emails seen by i
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Bank of London weighs rescue bid for UK arm of Silicon Valley BankA new clearing bank which launched just two years ago is among the suitors this weekend weighing bids to salvage the British arm of Silicon Valley Bank (SVB). You think the 1929 wallstreet crash and the 2008 banking crash was bad , you hav't seen anything , wallstreet , the city and the banks are in freefall, 2023 is going to see the biggest crash ever seen ....a world wide great depression...!
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Ex-Tory donor's bank Oaknorth in talks to buy stricken Silicon Valley Bank UKOaknorth, which was launched in 2015 and counts former chancellor Lord Hammond as an adviser, is plotting a takeover of the stricken UK arm of the tech-focused lender, Sky News learns. Ah the old boys network. Whose palm has he greased I wonder.... Anyone else smell fish? How do you become an ex Tory donor?
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