Britain's biggest high street banks have been given a 24-hour deadline to rescue Silicon Valley Bank UK (SVB UK) from collapse as the Bank of England prepares to place it into an insolvency process. "The Bank of England's assessment that SVB going into administration would have limited impact on the UK economy displays a dangerous lack of understanding of the sector and the role it plays in the wider economy, both today and in the future. "The founders warned Mr Hunt, who will deliver his Budget statement on Wednesday, that the collapse of SVB UK would "cripple the sector and set the ecosystem back 20 years"