Many in the tech sector and the venture capital industry have called for the government to step in to support SVB clients.
| Banks are in talks with the UK Treasury about a potential plan to take on depositors from SVB Financial Group’s British arm in a bid to avoid wide scaleSome of the country’s biggest lenders have been discussing the idea with ministers on Sunday, according to people with direct knowledge of the matter. It’s being prepared as a Plan B if the government fails to find a buyer for the bank, the people said.
If the process falls through, banks are requesting a government guarantee as part of the deal, to cover them until the deposits are released from SVB, the people said. The banks may also secure a waiver over anti-money laundering rules, given the speed at which they are set to take on the customers.
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