The British Treasury confirmed that the problems of the US bank “Silicon Valley”, which closed as a result of its bankruptcy, are “specific”, and have no implications for other banks operating in the United Kingdom.
The closing of the Silicon Valley Bank led to a minor panic in the markets.
“(British banking system) is strong and resilient,” the British Treasury said in a statement. She pointed out that the British Finance Minister, Jeremy Hunt, spoke to the Governor of the Bank of England, regarding the British branch of this American bank, to ensure that “its bankruptcy is dealt with smoothly and any disruption is minimized.” And the American bank is no longer able to deal with the huge withdrawals of customers, especially technology companies.
