[short_sells_poo]

They acquired a bunch of client assets for 1 GBP. Those client assets will generate money for them in the long term. For HSBC this is a great deal. For the clients too, come to think of it. On Friday the future of their money was uncertain, whereas today they can relax a bit because a big bank is backing them.

[noobermin]

Assuming of course clients don't fucking pull out the moment they can when svb uk reopens.

[actionablefiber]

If you had deposits with SVB's UK arm before, congrats, you're now an HSBC customer.

There is a much lower chance HSBC experiences a bank run. Not to jinx it but the most likely outcome is that most customers are satisfied that HSBC is a well-capitalized bank and keep their money there, while HSBC gets to use their deposits and the bank's assets to sit comfy earning yield.

[naijaboiler]

Um "client assets" are liabilities to a bank

[Teandw]

They didn't acquire client assets for £1. That's not quite how it works.