Governments in the U.K. and U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down.The U.K. Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon Valley Bank UK to HSBC, Europe's biggest bank, ensuring the security of 6.7 billion pounds ($11.1 billion Cdn) of deposits.
#people #responsible #getty-images #announcement #governments #president-joe-biden #small-businesses #coming-days #santa-clara #sunday-evening
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