Federal regulators are conducting an public sale for Silicon Valley Financial institution, with closing bids due Sunday, in keeping with a report from Bloomberg Information.

The financial institution was closed by regulators on Friday after huge withdrawals a day earlier created a financial institution run. The Federal Deposit Insurance coverage Company took management of the financial institution on Friday, and began an public sale course of on Saturday evening, in keeping with the report.

It’s nonetheless potential that no deal is reached, the report mentioned.

The collapse of SVB, which was a key participant within the expertise start-up world, is the most important U.S. financial institution failure since Washington Mutual in 2008. That financial institution was then bought by JPMorgan Chase in a deal that restored the uninsured deposits.

A complete or partial acquisition by one other financial institution is likely one of the choices regulators are exploring this weekend. Many traders on Wall Road and Silicon Valley count on an announcement sooner or later on Sunday to element the subsequent steps within the SVB disaster.

Learn the whole Bloomberg Information report right here.