The American leader believes that the American banking system is no longer in danger. This was Joe Biden’s answer to the corresponding question from reporters.
He answered in the affirmative “Yes” to the question of whether the situation of banks in the country has stabilized. His response leads RIA Novosti to a reference to the White House pool.
Earlier, Biden and California Governor Newsom discussed the collapse of the Silicon Valley bank. They discussed the situation with the bank and the efforts to resolve it. This major American bank went bankrupt in just two days. Silicon Valley Bank’s short-lived bankruptcy was the biggest since the 2008 financial crisis.
It all started with a bank statement about an unsuccessful corporate action. An additional share issue of US$2.25 billion was announced as compensation. Depositors rushed to withdraw their money from their accounts, causing liquidity to plummet. A day later, the panic escalated and the bank’s management declared the institution bankrupt.
The message that Biden believes the situation with banks in the United States has stabilized
