A British minister warns of “serious risks” after the collapse of the Silicon Valley bank

British Chancellor of the Exchequer, Jeremy HuntHe said Sunday (12) that he is working with the prime minister Rishi Sunak and Bank of England Governor Andrew Bailey “avoid or minimize harm” Aroused by the chaos in which the British arm was embroiled Silicon Valley Bank.

“We will put forward immediate plans to ensure that the short-term cash flow and operational needs of Silicon Valley Bank UK clients are met.”said Hunt.

Hunt also said the British government was treating the issue as a matter of course “The Most Important” And that SVB break can have a stretch Significant impact in some companies.

According to the minister, the California-based foundation manages funds for some of the most promising companies in the UK.

“There is a serious danger to Technology and life sciencesMany of them are employees of this bank.“

a Silicon Valley Bank He was known as a financier Silicon Valley startups, in ca. US regulatory authorities The financial institution closed on Fridayin what is considered The biggest bank failure in the country since the 2008 crisis. The news caused major stock exchanges in the world to drop.