Silicon Valley Bank
Debate between Stephen Kinnock and Andrew Griffith
Monday 13th March 2023
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(1 year, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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?