Suncorp remains open to offers to sell its banking business, the bank's chief executive, John Mulcahy, reiterated in a feature article in the Financial Review.The newspaper's feature reviews the circumstances of the brief and fraught auction by Suncorp of its bank to ANZ, Commonwealth and National Australia banks in the second week of October, amid deep unease within markets, financial regulators and Suncorp's board over its funding position.In the end only ANZ bid, with an offer reputedly in line with the valuation CBA applied to its successful offer for BankWest earlier that week. ANZ's offer was valid only until the evening of Sunday, 12 October.That afternoon Australia's government announced its (since modified) policy to guarantee bank deposits and also wholesale liabilities, a policy motivated in part by the similar guarantees in Ireland and Greece.Mulcahy denies that he or Suncorp had any prior knowledge of the government's policy, with contact with the government limited to wider discussions of the implications of the credit crunch.Some speculate that the difficult funding outlook for Suncorp (and which experienced deposit outflows in August and September) also motivated the framing, and timing, of the guarantee.In his interview with the AFR, Mulcahy rejects any connection between the policy decision to guarantee deposits and the rejection by Suncorp's board of ANZ's offer. The line seems to be that the ANZ offer failed simply because of the low price.