Bank of England finds SVB UK clients pulled £3bn on day of collapse

Giving evidence to MPs

Eve Maddock-Jones
clock • 1 min read

The Bank of England has revealed that British technology firms withdrew £2.9bn from the UK subsidiary of Silicon Valley Bank on the day the bank collapsed in the US, exceeding the expected size of withdrawals.

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

AJ Bell urges government to focus on merging ISAs instead of slashing tax-free limits
UK

AJ Bell urges government to focus on merging ISAs instead of slashing tax-free limits

'Stick rather than carrot' approach

Beth Brearley
clock 16 October 2025 • 1 min read
Reeves proclaims investors can count on Britain as 'a beacon of stability'
UK

Reeves proclaims investors can count on Britain as 'a beacon of stability'

UK growth revised upward to 1.3% for 2025/26

Michael Nelson
clock 15 October 2025 • 1 min read
Chancellor reconsidering Cash ISA reforms in Budget
UK

Chancellor reconsidering Cash ISA reforms in Budget

Halving tax-free limit on the table

Eve Maddock-Jones
clock 15 October 2025 • 2 min read
Trustpilot