HSBC snaps up UK arm of Silicon Valley Bank for just ￡1 in 企て，努力，提案 to 妨げる tech 部門崩壊（する）

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崩壊（する） of tech-焦点（を合わせる）d Silicon Valley Bank 誘発するd 恐れるs across 塀で囲む Street
FTSE 100 苦しむd bigger 落ちるs than seen in 影響 of September 小型の-予算

By John-paul Ford Rojas 上級の商売／仕事 Reporter and Jamie Phillips

Published: 21:03 BST, 13 March 2023 | Updated: 00:02 BST, 14 March 2023

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HSBC has taken over the UK arm of 崩壊（する）d 貸す人 Silicon Valley Bank for ￡1 in a 取引，協定 that 保護するs more than 3,000 顧客s' deposits and spares taxpayers from 保釈（金）ing them out.

The 緊急引き継ぎ／買収 comes after frantic 会談 over the 週末伴う／関わるing the （ドイツなどの）首相／（大学の）学長, the 総理大臣 and the Bank of England to 妨げる列s of the tech 部門 from 存在 wiped out.

顧客s of Silicon Valley Bank UK, some of whom had millions of 続けざまに猛撃するs in deposits, 回復するd 接近 to their money yesterday after 存在 frozen out.

The 取引，協定告示（機の）カム hours after American 当局 moved to 保証（人） the deposits of the bank's US parent company, which 崩壊（する）d on Friday.

（ドイツなどの）首相／（大学の）学長 Jeremy 追跡（する） had 警告するd over the 週末 that the UK tech 部門 was at 'serious 危険' from the 崩壊（する） of SVB UK. He 誓約（する）d on Sunday that the 政府 would bring 今後即座の計画（する）s to help companies banking with the 会社／堅い with their 即座の cashflow needs ? such as 支払う／賃金ing staff.

の中で those believed to have been frozen out of 接近ing 基金s was an IT provider to the NHS.

The 取引，協定 did not 妨げるその上の落ちるs in banking 株 with Barclays 負かす／撃墜する 6 per cent, HSBC off by 4 per cent, and Natwest and Lloyds 負かす／撃墜する 5 per cent ? wiping ￡50billion off the 連合させるd value of the FTSE 100 会社／堅いs

The 崩壊（する） of tech-焦点（を合わせる）d Silicon Valley Bank 誘発するd 恐れるs across 塀で囲む Street that the banking system was 存在手足を不自由にする／（物事を）損なうd by a relentless cycle of 利益／興味率 rises

発表するing the HSBC 取引，協定, Mr 追跡（する） said: 'The UK's tech 部門 is genuinely world-主要な and of 抱擁する importance to the British economy, supporting hundreds of thousands of 職業s. I said [on Sunday] that we would look after our tech 部門, and we have worked 勧める ntly to 配達する on that 約束 and find a 解答 that will 供給する SVB UK's 顧客s with 信用／信任.' One Tory MP 述べるd it as the 'perfect 解答'.

The Bank of England said it 'can 確認する that all depositors' money with SVB UK is 安全な and 安全な・保証する as a result of this 処理／取引'.

SVB UK had 貸付金s of around ￡5.5billion and deposits of ￡6.7billion at the time of its 崩壊（する） on Friday, HSBC said.

Mr 追跡（する） said the 崩壊（する） had never 提起する／ポーズをとるd 'a systemic 危険 to our 財政上の安定' but said important 戦略の会社／堅いs could have been wiped out, which would have been '極端に dangerous'.

HSBC has taken over the UK arm of 崩壊（する）d 貸す人 Silicon Valley Bank for � �1 in a 取引，協定 that 保護するs more than 3,000 顧客s’ deposits and spares taxpayers from 保釈（金）ing them out

The 続けざまに猛撃する was 持つ／拘留するing 会社／堅いにもかかわらず the 株式市場 woes and was up by about 1% against the US dollar at 1.215 and up by 0.1% against the euro at 1.1318.

In company news, HSBC saw its 株 price 拒絶する／低下する by more than 4% にもかかわらず発表するing it had acquired Silicon Valley Bank's (SVB) UK 商売／仕事 in the all-important 救助（する）取引，協定.?

Europe's biggest bank said it paid just ￡1 for the troubled bank, 示すing that regulators were 確信して it could easily take on any 危険 from SVB UK's 顧客s.?

However, its 株 price の近くにd 4.1% lower as the 在庫／株 was caught up in 投資家 jitters over the wider banking 部門.?

一方／合間, 保険会社 Direct Line 認める its 2022 results were 'disappointing' and that the group did not navigate the challenges of インフレーション and regulatory 改革（する） as 効果的に as it would have liked.?

The group 報告（する）／憶測d a 十分な year pre-税金 loss of ￡45 million against sharp （人命などを）奪う，主張するs インフレーション, 特に across its モーター arm.?

Its 株 price の近くにd 4.8% lower. The biggest risers on the FTSE 100 were 努力する採掘, up 70p to 1,720p, Fresnillo, up 25.2p to 747.4p, Severn Trent, up 58p to 2,824p, Convatec Group, up 3.8p to 220.6p, and 海軍大将 Group, up 30.5p to 1,912p.?

The biggest fallers on the FTSE were 基準借り切る／憲章d, 負かす／撃墜する 51p to 688.8p, Barclays, 負かす／撃墜する 9.94p to 147.48p, Beazley, 負かす／撃墜する 36.5p to 545p, Ashtead Group, 負かす／撃墜する 340p to 5,192p, and Ocado Group, 負かす／撃墜する 27.3p to 423.8p.

Silicon Valley Bank 崩壊（する）: Everything you need to know

Why did Silicon Valley Bank fail??

Silicon Valley Bank had already been 攻撃する，衝突する hard by a rough patch for 科学（工学）技術 companies in 最近の months and the 連邦の Reserve's 積極的な計画（する） to 増加する利益／興味率s to 戦闘インフレーション構内／化合物d its problems.?

The bank held billions of dollars 価値（がある） of 財務省s and other 社債s, which is typical for most banks as they are considered 安全な投資s.?

However, the value of 以前問題／発行するd 社債s has begun to 落ちる because they 支払う／賃金 lower 利益／興味率s than 類似の社債s 問題／発行するd in today's higher 利益／興味率環境.?

Such 社債s are not sold for a loss unless there is an 緊急 and the bank needs cash. Silicon Valley, the bank that 崩壊（する）d on Friday, had an 緊急.?

Its 顧客s were 大部分は start-ups and other tech-centric companies that needed more cash over the past year, so they began 身を引くing their deposits.?

That 軍隊d the bank to sell a chunk of its 社債s at a 法外な loss, and the pace of those 撤退s 加速するd as word spread, 効果的に（判決などを）下すing Silicon Valley Bank insolvent.?

What did the 政府 do on Sunday??

The 連邦の Reserve, the US 財務省 Department, and the 連邦の Deposit 保険会社／団体 (FDIC) decided to 保証（人） all deposits at Silicon Valley Bank, 同様に as at New York's 署名 Bank, which was 掴むd on Sunday.?

批判的に, they agreed to 保証（人） all deposits, above and beyond the 限界 on insured deposits of 250,000 dollars (￡205,000).?

Man y of Silicon Valley's start-up tech 顧客s and 投機・賭ける資本主義者s had far more than 250,000 dollars at the bank.?

As a result, as much as 90% of Silicon Valley's deposits were uninsured. Without the 政府's 決定／判定勝ち（する） to backstop them all, many companies would have lost 基金s needed to 会合，会う payroll, 支払う／賃金法案s, and keep the lights on.?

The goal of the 拡大するd 保証（人）s is to 回避する bank runs - where 顧客s 急ぐ to 除去する their money - by 設立するing the Fed's かかわり合い to 保護するing the deposits of 商売／仕事s and individuals and 静めるing 神経s after a harrowing few days.?

Also late on Sunday, the 連邦の Reserve 始めるd a 幅の広い緊急 lending programme ーするつもりであるd to shore up 信用／信任 in the nation's 財政上の system.?

Banks will be 許すd to borrow money straight from the Fed ーするために cover any 可能性のある急ぐ of 顧客撤退s without 存在軍隊d into the type of money-losing 社債 sales that would 脅す their 財政上の安定.?

Such 解雇する／砲火／射撃 sales are what 原因（となる）d Silicon Valley Bank's 崩壊（する）. If all 作品 as planned, the 緊急 lending programme may not 現実に have to lend much money.?

Rather, it will 安心させる the public that the Fed will cover their deposits and that it is willing to lend big to do so. There is no cap on the 量 that banks can borrow, other than their ability to 供給する collateral.

How is the programme ーするつもりであるd to work??

Unlike its more byzantine 成果／努力s to 救助（する） the banking system during the 財政上の危機 of 2007-08, the Fed's approach this time is 比較して straightforward. It has 始める，決める up a new lending 施設 with the bureaucratic moniker Bank 称する，呼ぶ／期間／用語基金ing Programme.?

The programme will 供給する貸付金s to banks, credit uni ons, and other 財政上の会・原則s for up to a year. The banks are 存在 asked to 地位，任命する財務省s and other 政府-支援するd 社債s as collateral.?

The Fed is 存在 generous in its 条件: It will 告発（する），告訴（する）／料金 a 比較して low 利益／興味率 - just 0.1 百分率 points higher than market 率s - and it will lend against the 額面価格 of the 社債s, rather than the market value.?

Lending against the 額面価格 of 社債s is a 重要な準備／条項 that will 許す banks to borrow more money because the value of those 社債s, at least on paper, has fallen as 利益／興味率s have moved higher.?

As of the end of last year US banks held 財務省s and other 安全s with about 620 billion dollars (￡509 billion) of unrealised losses, によれば the FDIC. That means they would take 抱擁する losses if 軍隊d to sell those 安全s to cover a 急ぐ of 撤退s.?

How did the banks 結局最後にはーなる with such big losses??

Ironically, a big chunk of that 620 billion dollars in unrealised losses can be tied to the 連邦の Reserve's own 利益／興味率政策s over the past year.?

In its fight to 冷静な／正味の the economy and bring 負かす／撃墜するインフレーション, the Fed has 速く押し進めるd up its （判断の）基準利益／興味率 from nearly 無 to about 4.6%.?

That has 間接に解除するd the 産する／生じる, or 利益／興味 paid, on a 範囲 of 政府社債s, 特に two-year 財務省s, which topped 5% until the end of last week.?

When new 社債s arrive with higher 利益／興味率s, it makes 存在するing 社債s with lower 産する／生じるs much いっそう少なく価値のある if they must be sold.?

Banks are not 軍隊d to recognise such losses on their 調書をとる／予約するs until they sell those 資産s, which Silicon Valley was 軍隊d to do. -

How impor tant are the 政府保証（人）s??

They are very important. 合法的に, the FDIC is 要求するd to 追求する the cheapest 大勝する when winding 負かす／撃墜する a bank.?

In the 事例／患者 of Silicon Valley or 署名, that would have meant sticking to 支配するs on the 調書をとる／予約するs, meaning that only the first 250,000 dollars in depositors' accounts would be covered.?

Going beyond the 250,000 dollar cap 要求するd a 決定／判定勝ち（する） that the 失敗 of the two banks 提起する／ポーズをとるd a 'systemic 危険'.?

The Fed's six-member board 全員一致で reached that 結論. The FDIC and the 財務省長官 went along with the 決定／判定勝ち（する）同様に.

Will these programmes spend taxpayer dollars??

The US says that 保証（人）ing the deposits will not 要求する any taxpayer 基金s. Instead, any losses from the FDIC's 保険基金 would be 補充するd by 徴収するing an 付加料金 on banks.?

Yet Krishna Guha, an 分析家 with the 投資 bank Evercore ISI, said that political 対抗者s will argue that the higher FDIC 料金s will '最終的に落ちる on small banks and Main Street 商売／仕事'.?

That, in theory, could cost 消費者s and 商売／仕事s in the long run.?

Will it all work??

Mr Guha and other 分析家s say that the 政府's 返答 is expansive and should stabilise the banking system, though 株 prices for medium-sized banks, 類似の to Silicon Valley and 署名, 急落（する），激減（する）d on Monday.?

Paul Ashworth, an 経済学者 at 資本／首都経済的なs, said the Fed's lending programme means banks should be able to 'ride out the 嵐／襲撃する'.

FTSE 連邦の Reserve HSBC