HSBC Holdings is exploring the acquisition of Silicon Valley Bank UK. An insider said the deal is still uncertain and the Bank of England may make a decision to put Silicon Valley Bank UK SVB UK into bankruptcy proceedings in the next few hours. US banking giant JPMorgan Chase is also bidding for the acquisition.

British commercial lenders Oaknorth Bank, Bank of London, Barclays and Lloyds Bank are reportedly in talks to acquire Silicon Valley Bank's UK branch. (Sky News)