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The Bank of London bids for Silicon Valley Bank UK as government races to find buyer

Multiple bidders have been linked with the UK arm of Silicon Valley Bank as crisis talks continue

Forced into a fire sale of bond holdings as interest rates spiked, bankers are now trying to work out how to save Silicon Valley Bank's UK arm
Forced into a fire sale of bond holdings as interest rates spiked, bankers are now trying to work out how to save Silicon Valley Bank's UK arm Photo: Liu Guanguan/Getty Images

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The Bank of London has made a formal bid for the UK operations of Silicon Valley Bank, as the government spends the weekend racing for buyers for the collapsed lender.

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