Auction process is reportedly underway to find a buyer for Silicon Valley Bank

Federal regulators are conducting an auction for Silicon Valley Bank, with last bids owed Sunday, according to a study from Bloomberg News.

The slope was closed by regulators connected Friday aft monolithic withdrawals a time earlier created a slope run. The Federal Deposit Insurance Corporation took power of the slope connected Friday, and started an auction process connected Saturday night, according to the report.

It is inactive imaginable that nary woody is reached, the study said.

The illness of SVB, which was a cardinal subordinate successful the exertion start-up world, is the largest U.S. slope nonaccomplishment since Washington Mutual successful 2008. That slope was past purchased by JPMorgan Chase successful a woody that restored the uninsured deposits.

A full oregon partial acquisition by different slope is one of the options regulators are exploring this weekend. Many investors connected Wall Street and Silicon Valley expect an announcement astatine immoderate constituent connected Sunday to item the adjacent steps successful the SVB crisis.

Read the implicit Bloomberg News study here.