Silicon Valley Bank: Fear is spreading

The government in London meanwhile tried to keep the consequences of the collapse of the SVB, which is also represented in Great Britain, as small as possible. “The Government is treating this issue as a high priority,” Treasury Secretary Jeremy Hunt said. “The Government is working flat out to find a solution to avoid or minimize damage to some of our most promising businesses in the UK.” The Bank of England announced on Friday that it intends to place SVB’s UK arm in bankruptcy proceedings.