Silicon Valley Bank

Debate between Stephen Kinnock and Andrew Griffith

Monday 13th March 2023 Commons Chamber

[Andrew Griffith]

I can absolutely give my right hon. Friend that assurance. In doing so, let me also pay tribute to her work as a Member of the European Parliament between 2009 and 2017, when she led on banking reform.

[Stephen Kinnock (Aberavon) (Lab)]

The Minister said that SVB UK was a subsidiary of the American bank, but in this country a separate banking licence was given to SVB UK. May I therefore push him on the risk assessment around liquidity? When the banking licence was given, what risk assessment was conducted, particularly given the concentration of a small number of corporates in the deposits to SVB UK?