Published 1 year ago

Asian Bank Stocks Lead Market Drops After Collapse of 2 US Banks

Summary by Ground News

President Joe Biden says deposits will be there when you need them. Investors dump shares in bank stocks. Shares of First Republic Bank plunged more than 70% on Monday. U.S. regulators closed Silicon Valley Bank on Friday after depositors rushed to withdraw their funds all at once.

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Irish Independent

Biden insists banking system is safe after two bank collapses

US President Joe Biden has insisted that the nation’s banking system is safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures.

1 year ago·Ireland

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Sydney Morning Herald

Biden insists banking system is safe as a third lender wobbles

Despite the message from the White House, investors continued to dump shares in bank stocks with shares of First Republic Bank plunging more than 60 per cent.

1 year ago·Sydney, Australia

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Shropshire Star

Biden insists banking system is safe after two bank collapses

1 year ago·Ketley, United Kingdom

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The Mercury news

Biden insists banking system is safe after 2 bank collapses

By KEN SWEET, CHRISTOPHER RUGABER, CHRIS MEGERIAN and CATHY BUSSEWITZ (Associated Press) NEW YORK (AP) — President Joe Biden insisted Monday that the nation’s banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures. “Your deposits will be there when you need them,” Biden said. Despite the message…

1 year ago·San Jose, United States

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