Key Highlights :
1. The British government facilitated a sale of the United Kingdom arm of the collapsed Silicon Valley Bank to HSBC Holdings Plc's 'ring-fenced subsidiary' - with help from the Bank of England - for 1 pound sterling, or around ₹ 99.
2. The deal is not expected to impact HSBC's global balance sheet but will sharpen exposure in its home market.
3. The acquisition makes an excellent strategic sense for HSBC's UK business.
4. Many businesses will be sent into involuntary liquidation overnight as a result of the collapse of SVB Financial Group.
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Continue Reading at Source : hindustantimes