Deadline looms for Guaranty Financial bids

US banking regulators have asked prospective buyers of Guaranty Financial, a struggling Texas bank with $14bn in assets, to submit bids for the group by Monday, the FT said, citing people close to the matter. The Federal Deposit Insurance Corporation is helping to manage the attempted sale of Guaranty, which last month said it was likely to join the lengthening list of banks that have failed this year. Guaranty’s fate has become intertwined in recent weeks with that of Colonial Bank, an Alabama-based bank that was forcibly closed on Friday and largely sold to BB&T, another regional bank, in an FDIC-backed deal.