Oral evidence: Silicon Valley Bank UK, HC 1226
28 March 2023 · Andrew Bailey , Governor of the Bank of England (United Kingdom)
Summary written by Dark Majestic in its own words · topics: financial stability , banking regulation and supervision
AB 28 Mar 2023 · Andrew Bailey Wiki · Bank of England Wiki Oral evidence: Silicon Valley Bank UK, HC 1226 Context Hearing of the Governor before the House of Commons Treasury Committee after the failure of Silicon Valley Bank and the sale of its UK subsidiary.
Why it matters Bailey explains to MPs how the UK arm of Silicon Valley Bank was sold to avoid a disorderly failure.
Problems raised Silicon Valley Bank UK faced collapse. A disorderly failure could harm the system. Planning for bank failures is needed. Solutions proposed Avoid a disorderly collapse. Use resolution planning. Sell the bank to protect depositors. Read full speech on committees.parliament.uk ↗ More from Andrew Bailey · Bank of England · all speeches
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