BaFin Allows SVB Germany to Conduct Lending Business

The Federal Financial Supervisory Authority (BaFin) announced on Monday (March 20) that it has granted Silicon Valley Bridge Bank N.A. authorisation to conduct lending business and proprietary business via its German branch SVB Germany.

According to the announcement, SVB Germany has taken over all of the business operations of Silicon Valley Bank Germany Branch. On 13 March 2023, BaFin ordered a moratorium on Silicon Valley Bank Germany Branch. SVB Germany is not affected by this moratorium. The institution is not subject to a ban on disposals and payments, and it is open for business with customers.

SVB Germany is a branch of the US institution Silicon Valley Bridge Bank N.A. The former Silicon Valley Bank, domiciled in Santa Clara, California, USA, transferred its business operations, including its equity, assets and liabilities, to this bridge bank. On 13 March 2023, Silicon Valley Bridge Bank N.A. was granted authorization to conduct banking business by the competent Office of the Comptroller of the Currency (OCC). Following this, the bank applied for authorization for its new German branch, SVB Germany.