The U.S. Federal Reserve and the Federal Deposit Insurance Corp (FDIC) are weighing the creation of a fund that would allow regulators to backstop more deposits at banks that run into trouble in the wake of Silicon Valley Bank's collapse, Bloomberg News reported on Saturday.

Regulators discussed the new special vehicle in conversations with banking executives and hope such a measure would reassure depositors and help contain any panic, the report said, citing people familiar with the matter.

The new vehicle is part of the agency's contingency planning as panic spreads about the health of banks focused on the venture capital and startup communities, the report added.

Earlier on Saturday, U.S. President Joe Biden spoke with California Governor Gavin Newsom about the SVB failure and the efforts to address the situation.

Meanwhile, the managers of Silicon Valley Bank’s investment banking arm, SVB Securities, are exploring ways to buy the collapsed lender back from its parent company, according to another Bloomberg News report on Saturday.

SVB Securities Chief Executive Officer Jeff Leerink and his team are seeking help to finance a potential management buyout of the business, the report said, citing people familiar with the matter.

There is no certainty that a deal will be reached and other potential buyers could also emerge for the unit, Bloomberg said.

On Friday, startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis.

Read more: Silicon Valley Bank crisis deals blow to U.S. banking sector

Britain's finance ministry and the Bank of England are working together to minimize the disruption that could stem from the UK arm of Silicon Valley Bank, the ministry said on Saturday.

Officials from both groups are working closely together, the finance ministry said in a statement, with talks scheduled for later on Saturday to discuss the issues faced by British tech companies affected by the collapse.

(With input from Reuters)