HSBC, JPMorgan exploring takeover of UK's Silicon Valley Bank

According to the British "Sky News" report, HSBC Holdings is exploring the acquisition of the British Silicon Valley Bank. A deal remains uncertain, with the Bank of England likely to make a decision to place Britain's Silicon Valley Bank in bankruptcy proceedings within the next few hours, an insider said. U.S. banking giant JPMorgan Chase is also bidding. Foresight News previously reported that UK business lender Oaknorth Bank, Bank of London, Barclays and Lloyds were in talks to buy UK-based Silicon Valley Bank.