Biden says ‘our banking system is safe’ amid Silicon Valley Bank fallout
Summary by Ground News
President Biden on Monday expressed confidence that the U.S. banking system is safe and Americans can access their deposits after regulators closed two banks in recent days.
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Times of India
Biden tells U.S. to have confidence in banks after collapse
U.S. regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once. It is the second largest bank failure in U.S. history, behind only the 2008 failure of Washington Mutual.
Our Financial System Is Safe and Sound, Have Faith: US President Joe Biden
President Joe Biden tells US residents that the nation's financial systems are sound, following the swift and stunning collapse of two banks that prompted fears of a broader upheaval
President Joe Biden is telling Americans that the nation’s financial systems are sound. This comes after the swift and stunning collapse of two banks that prompted fears of a broader upheaval. (March 13)
