California bank failures aren’t expected to impact West Virginia state business

State Treasurer Riley Moore confirmed the West Virginia Board of Treasury Investments, which manages the $10 billion Consolidated Fund of short-term investments for the state and local governments, has no exposure to Silicon Valley Bank or other recently failed banks. Treasurer Moore said the Board of Treasury Investments and his Office are closely monitoring the situation in the national banking system. He believes West Virginia’s banking sector will be largely unaffected by the Silicon Valley Bank fallout.