British bank HSBC has bought the UK arm of Silicon Valley Bank, ensuring the security of £6.7 billion pounds (8.1 billion dollars) of deposits, Chancellor Jeremy Hunt confirmed on Monday.Hunt said the Treasury and the Bank of England worked throughout the weekend to find a buyer for the UK subsidiary of the US-based bank that failed last week.He said a number of the country's "most promising" companies had their money with the bank, which pushed the speedy decision-making.HSBC said it will acqui

British bank HSBC has bought the UK arm of Silicon Valley Bank, ensuring the security of £6.7 billion pounds (8.1 billion dollars) of deposits, Chancellor Jeremy Hunt confirmed on Monday.Hunt said the Treasury and the Bank of England worked throughout the weekend to find a buyer for the UK subsidiary of the US-based bank that failed last week.He said a number of the country's "most promising" companies had their money with the bank, which pushed the speedy decision-making.HSBC said it will acquire Silicon Valley Bank UK Ltd for one pound.