California Governor Gavin Newsom said in a statement that he's working with the White House and Federal Deposit Insurance Corporation after Silicon Valley Bank was shut down by regulators.
Silicon Valley Bank headquarters in Santa Clara, California, US, on Friday, March 10, 2023. Silicon Valley Bank became the biggest US bank failure in more than a decade, after its long-established customer base of tech startups grew worried and yanke
The bank was the 16th-largest bank inside the United States, and is the second-largest bank in the United States to close since 2008.California Gov. Gavin Newsom speaks during a press conference on October 06, 2022 in San Francisco, California.bank accounts up to $250,000, and said on Friday that depositors within SVP would regain access to accounts by Monday morning.
A customer stands outside of a shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal DepoFOX Business' Breck Dumas contributed to this report.
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