Advisory firm Rothschild & Co is exploring options for the UK arm, called Silicon Valley Bank UK Limited, as insolvency looms, two people familiar with the discussions told Reuters on Saturday. The BoE has said that it is seeking a court order to place the UK arm into an insolvency procedure.
Under insolvency proceedings for banks in Britain, some depositors are eligible for up to 85,000 pounds of compensation for cash held at lenders, or 170,000 pounds for joint accounts. Customers may not be able to recover deposits in excess of that. Still, in the U.S., the Federal Deposit Insurance Corporation , which was appointed receiver, was trying to find another bank over the weekend that was willing to merge with Silicon Valley Bank, people familiar with the matter said on Friday, to minimise the fallout.
Now who are we bailing out this time ?
Well don't use serial failed businessman Jeremy to do ANYTHING then.
POTUS
Lol. Thank your favorite Liberal!
nice regulation, sure glad it's there
🧐🧐…
Damn nerds🤣
Good luck y'all
Let it fail.
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