Silicon Valley Bank UK: 'Either British banks save it or the government will step up' - Bloomberg

Bloomberg finance editor Katherine Griffiths explains how the collapse of Silicon Valley stateside
might impact UK tech firms.

Sky News has learned that major UK lenders including Barclays and Lloyds Banking Group are among the parties to have been approached by the board of SVB UK over the weekend to see if an emergency takeover deal can be struck.

If this does not happen the government is likely to provide short-term funding for tech firms "to pay their staff", Griffiths believes.

#siliconvalleybank #barclays #lloydbanks

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