Bloomberg Daybreak: Europe Edition cover image

UPDATE: HSBC buys the UK division of Silicon Valley Bank for £1

Bloomberg Daybreak: Europe Edition

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HSBC Shares

HSBC is a tiny dot for HSBC worldwide. I think for the UK, it has been resolved. It's taken out of the public domain. There's no crisis to happen. No systemic plan that needs to be developed. So it does look done and dusted on the UK side. What's still missing in the US response then? The whole plan is going to get looked over today. How much public money is going into it? Depositors are used the banking system. That's the public. Some of the guaranteed for deposits that may be paid out might come out of the FDIC reserve fund - funded by tax on deposits.

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