U.S. News

Biden speaks with California governor about Silicon Valley Bank: White House

Key Points
  • U.S. President Joe Biden on Saturday discussed developments surrounding the Silicon Valley Bank with California Governor Gavin Newsom.
  • Regulators shuttered the bank on Friday.
U.S. President Joe Biden gestures as he boards Air Force One to depart for Washington from Maxwell Air Force Base in Montgomery, Alabama, U.S. March 5, 2023. 
Jonathan Ernst | Reuters

U.S. President Joe Biden spoke with California Governor Gavin Newsom on Saturday about the Silicon Valley Bank failure and efforts to address the situation, the White House said after the bank's collapse.

A White House statement said Biden discussed with Newsom an emergency declaration he issued on Friday to ensure California has the full support of the federal government as it responds to the impacts of severe winter weather, including flooding, landslides and mudslides.

"The President and the Governor also spoke about Silicon Valley Bank and efforts to address the situation," the statement said without elaborating.