HSBC Holdings – the largest banking institution in the United Kingdom – will reportedly purchase Silicon Valley Bank UK Limited (SVB UK) for £1 ($1.20). Silicon Valley Bank made the headlines last week, revealing liquidity issues and balance sheet holes. This triggered huge panic among venture capital firms, who reportedly advised investors to withdraw their funds from the bank. After failing to raise the necessary capital to stay afloat, the financial regulators of California shut down SVB.