HSBC Holdings has emerged as a potential 'white knight' bidder for Silicon Valley Bank (SVB) UK as the government and regulators seek to avert the lender's insolvency.

Sky News has learnt that HSBC was on Sunday night exploring a bid for the British arm of the stricken technology-focused lender, joining a slew of smaller rivals in the emergency sale process triggered by the collapse into government ownership of its American parent.

One insider said a deal remained uncertain and a decision by the Bank of England to place SVB UK into insolvency proceedings could still take place in the coming hours.