SILICON VALLEY BANK - OFFER MADE FOR UK ARM OF FAILED US LENDER - BBC.

https://twitter.com/financialjuice/status/1635041085708795904

An offer has been made for the UK arm of Silicon Valley Bank (SVB) after it collapsed into administration, putting customer deposits at risk.

A consortium of investors led by The Bank of London, a UK clearing bank, has submitted a formal bid to the Treasury.

The government has been working "at pace" on a plan to support UK tech firms affected by the collapse of SVB.

There have been warnings some could struggle to pay their staff from Monday without intervention