> the BoE said: “SVB UK has a limited presence in the UK and no critical functions supporting the financial system. In the interim, the firm will stop making payments or accepting deposits.” SVB UK confirmed it would be put into insolvency from this Sunday evening (tomorrow).
No, as the article states, it intends to place SVB UK into an insolvency procedure but has not placed it yet. It makes a conservative assumption that this procedure might be needed "absent any meaningful further information", but if SVB UK provides such information and shows that it is separate and solvent, then it can avoid this procedure, in which case it would probably get sold to someone to pay the parent company's liabilities.
