Silicon Valley Bank UK

Treasury written question – answered on 17th March 2023.

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Photo of Chi Onwurah Chi Onwurah Shadow Minister (Business, Energy and Industrial Strategy)

To ask the Chancellor of the Exchequer, whether any (a) team in his Department, (b) Executive agency and (c) other public body had responsibility for assessing the (i) sustainability and (ii) viability of Silicon Valley Bank's (A) capital structure and (B) exposure to risk when Silicon Valley Bank UK was granted a banking licence; and if he will make a statement.

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury

Authorisation decisions are for the independent regulators to comment on. The Prudential Regulation Authority (PRA) is responsible for the supervision of financial institutions operating in the UK.

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