"The UK has a world-leading tech sector, with a dynamic start-up and scale-up ecosystem," it said. The Treasury said in a statement on Sunday that the government was working on funding solutions to help hundreds of SVB UK clients meet cashflow obligations. The government and banking regulators are racing to find a solution to the crisis before markets open on Monday morning, with Rothschild, the investment bank, asked to handle the quickfire process by SVB UK with the consent of the Bank of England. Interest from ADQ, an Abu Dhabi state-backed investment vehicle, is thought to have cooled. ![]() A business lender founded by a prominent former Conservative Party donor is in talks to buy the British operations of Silicon Valley Bank, the US lender which collapsed last week.Įarlier on Sunday, both Oaknorth Bank, a business lender founded by a prominent former Conservative Party donor, and The Bank of London, a new clearing bank, submitted formal bids to buy SVB UK.
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