Canada's banking regulator has temporarily seized the assets of Silicon Valley Bank's (SVB) lone Canadian branch, after the California-based bank stunningly collapsed on March 10. HSBC agreed to buy SVB’s U.K. operations for one British pound, in a deal which ensures customer deposits will be protected. Anne Gaviola explains what's behind the California-based bank’s demise, and what it means for Canadian clients.

Canada's banking regulator has temporarily seized the assets of Silicon Valley Bank's (SVB) lone Canadian branch, after the California-based bank stunningly collapsed on March 10. HSBC agreed to buy SVB’s U.K. operations for one British pound, in a deal which ensures customer deposits will be protected. Anne Gaviola explains what's behind the California-based bank’s demise, and what it means for Canadian clients.

Canada's banking regulator has temporarily seized the assets of Silicon Valley Bank's (SVB) lone Canadian branch, after the California-based bank stunningly collapsed on March 10. HSBC agreed to buy SVB’s U.K. operations for one British pound, in a deal which ensures customer deposits will be protected. Anne Gaviola explains what's behind the California-based bank’s demise, and what it means for Canadian clients.

Canada's banking regulator has temporarily seized the assets of Silicon Valley Bank's (SVB) lone Canadian branch, after the California-based bank stunningly collapsed on March 10. HSBC agreed to buy SVB’s U.K. operations for one British pound, in a deal which ensures customer deposits will be protected. Anne Gaviola explains what's behind the California-based bank’s demise, and what it means for Canadian clients.