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Bank of England defends allocating less than one full-time staffer to monitor SVB in the UK
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The Bank of England has defended having less than one full-time staff member supervising Silicon Valley Bank's UK arm before it collapsed.
SVB's UK arm was supervised within a team of seven, of which 0.5 full-time-equivalent staff were exclusively dedicated to overseeing it, Bank governor Andrew Bailey said in a letter to MPs on the Treasury Committee, published on 22 March.
The...
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