<p style="font-weight: 400;">A British bank stepped in to buy collapsed California tech lender <a href="https://editorial.dailywire.com/news/regulators-shut-down-major-tech-bank-after-run-on-savings/" target="_blank" rel="noopener">Silicon Valley Bank</a>’s British arm for the equivalent of $1.21.</p>
<p style="font-weight: 400;">HSBC announced the deal for one British pound on Monday, following marathon talking through the night with federal officials. The deal does not include the assets or liabilities of the failed bank’s parent company, but is a first step toward sorting out the bank whose failure was announced Friday.</p>
<p style="font-weight: 400;">The acquisition &#8220;strengthens our commercial banking franchise and enhances our ability to serve innovative and fast-growing firms, including in the technology and life-science sectors, in the U.K. and internationally,&#8221; <a href="https://www.cnn.com/2023/03/13/investing/svb-uk-business-deal-intl-hnk/index.html">said</a> HSBC Group CEO Noel Quinn. &#8220;SVB U.K. customers can continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety and security of HSBC.&#8221;</p>
<p style="font-weight: 400;">It was not immediately known how much the British subsidiary of the failed bank had in assets or liabilities. The deal came as major North American lenders PNC Financial Services and Royal Bank of Canada both said they were not interested in taking over Silicon Valley Bank, which was the nation’s 16<sup>th</sup> largest lender.</p>
<p style="font-weight: 400;">The Federal Deposit Insurance Corp. is trying to find a bank with the funds and desire to take over the California bank, which was closed by the California Department of Financial Protection and Innovation and taken over by the FDIC.</p>
<p style="font-weight: 400;">The bank collapsed after a run on deposits following heavy losses from the liquidation of a $21 billion bond portfolio. The bank was a key player in the cryptocurrency, venture capital and tech sectors. The failure was the biggest since Washington Mutual in 2008.</p>
<p><b data-stringify-type="bold"><a class="c-link" href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" data-stringify-link="https://onelink.to/dwapp" data-sk="tooltip_parent">CLICK HERE TO GET THE DAILY WIRE APP</a></b></p>
<p style="font-weight: 400;">Although the FDIC only insures deposits up to $250,000, <a href="https://www.dailywire.com/news/biden-claims-his-quick-action-saved-banking-industry-blames-trump-for-banks-collapsing" target="_blank" rel="noopener">President Joe Biden insisted on Monday</a> that depositors would get all their money back without a taxpayer-funded bailout. How that might happen is not clear.</p>
<p style="font-weight: 400;">On Sunday, another lender, New York-based <a href="https://editorial.dailywire.com/news/regulators-shut-down-second-bank-in-race-to-contain-fallout-from-silicon-valley-bank-collapse/" target="_blank" rel="noopener">Signature Bank</a>, was closed down by state regulators and seized by the FDIC. In addition to both banks being heavily invested in volatile cryptocurrencies, they also were advocates of so-called Environmental, Social, and Governance policies, which put woke ideologies ahead of maximizing profits.</p>

<script async src="https://www.tiktok.com/embed.js"></script>
<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

British Lender Snaps Up Failed Silicon Valley Bank’s UK Operation For Peanuts

CONTINUE READING

Trump Expects To Be Arrested, Indicted By Special Counsel Jack Smith In 2020 Election Case

Former Secret Service Agent Dan Bongino Says Biden Family Member Brought Cocaine To White House

Con Artist: Victim Of Hunter Biden’s Latest Scam Is His Own Daughter

Trump, DeSantis Shocked By Bombshell Daily Wire Investigation Into Transgender Healthcare Providers

‘Huge Win For Free Speech’: Andrew Klavan Praises Musk For Allowing ‘What Is A Woman?’ To Air Unrestricted

‘Every Parent Should Watch This’: Elon Musk Retweets ‘What Is A Woman?’ To His 140M Followers

News

Banks

Business

United Kingdom

World

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

British Lender Snaps Up Failed Silicon Valley Bank’s UK Operation For Peanuts