HSBC Holdings Plc is set to buy the UK arm of Silicon Valley Bank, the culmination of a frantic weekend where ministers and bankers explored various ways to avert the SVB unit's collapse. Anna Edwards reports on Bloomberg Television.

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The Trump-era rollback of banking regulations was a big mistake.

The proof? Silicon Valley Bank's implosion.

The least Congress can do now is help prevent this type of meltdown from happening again by restoring Dodd-Frank regulations for all banks — regardless of their size.

HSBC has agreed to buy the UK arm of collapsed US Silicon Valley Bank (SVB), bringing relief to UK tech firms who warned they could go bust without help.

Customers and businesses who have money deposited in SVB UK will be able to access it as well as other banking services as normal.

The Treasury said the deal with HSBC involved no taxpayer money and the Bank of England said deposits were secure.

HSBC said it paid just £1 for the SVB's UK arm after it failed on Friday.

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