Hope that Silicon Valley Bank crisis can be resolved amid rescue efforts

HSBC buys British arm of the lender as US financial regulators moved on Sunday to assure all depositors their money is safe following the collapse of Silicon Valley Bank (SVB)

Irish tech companies are bracing for the impact of SVB’s collapse. The meltdown happened so suddenly that it is still not clear how many firms here may be exposed. Picture: Getty

Irish tech start-ups will be breathing a sigh of relief this morning after moves in the US and UK to avert a liquidity crisis following the collapse of Silicon Valley Bank last week.

The Department of Finance said in a statement it is continuing to monitor developments and is engaging with the relevant authorities in both the US and Britain.

HSBC Holdings said in a statement on Monday it is to buy the UK arm ...