Silicon Valley was fastest bank collapse in nearly 30 years, says Bank of England governor – video
Asked if he could have anticipated the collapse of the Silicon Valley Bank, the Bank of England governor said it was probably the fastest collapse of a bank he had seen in his three-decade long career.
'It is probably the fastest passage from health to death since Barings,' said Andrew Bailey, speaking before a Treasury select committee on Tuesday. Comparing the collapse of Silicon Valley Bank to Barings, which went under in 1993, Bailey added: 'Barings, as you will remember, was a sort of Friday to Sunday thing and this was pretty similar'