UPDATE: HSBC buys the UK division of Silicon Valley Bank for £1

(1) HSBC buys the UK division of Silicon Valley Bank for a nominal fee.

(2) US authorities protect SVB deposits in a bid to avert contagion.

(3) Sunak says that a plan to support UK tech businesses will be announced "very shortly"

(4) Goldman scraps it's bet on a March rate hike because of "recent stress in the banking system."

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