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Digital & dataSeptember 22 2023

Six months after SVB collapse, ‘banks need a new playbook’

Despite the failure of Silicon Valley Bank, some banks are seeing deposits rise, including the UK’s ClearBank.
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Six months after SVB collapse, ‘banks need a new playbook’Image: Sophie Park/Bloomberg

September 10 marked six months since the fall of Silicon Valley Bank (SVB), which shook the international tech sector and caused the biggest bank collapse since the 2008 financial crisis. 

Separate entity Silicon Valley Bank UK also suffered from association with the US bank, eventually being acquired by HSBC for £1.

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