eligible depositors

It is reported that although several UK venture capital companies expressed support for the Bank of Silicon Valley UK (SVB UK), the Bank of England (BoE) announced to stop its operation and said that the bank was “limited” and did not support the “key functions” of the UK financial system. The Bank of England explained that according to the country’s Financial Services Compensation Scheme (FSCS), “eligible depositors” would be paid a “protected limit” of up to 85000 pounds (approximately US $102288) or up to 170000 pounds (approximately US $204577). The Bank of England has closed the UK branch of the Bank of Silicon Valley Analysis based on this information:The recent announcement by the Bank of England (BoE) to stop the operations of the Bank of Silicon Valley UK (SVB UK) has generated mixed reactions from several UK venture capital (VC) companies that were in support of the bank. This move by the BoE is seen as a blow to the…