the American banking system is “solid”, assures Joe Biden

After the turbulence caused by the collapse of the bank Silicon Valley Bank (SVB), the American president wanted to be reassuring, Monday, March 13. “Americans can be confident that the banking system is sound”said Joe Biden from the White House. “Your deposits will be available when you need them”he said, promising that American taxpayers would not be liable for losses from a bank failure, and called on Congress to “to strenghten” sector regulation.

>> We explain to you why the bankruptcy of the Silicon Valley Bank revives fears of a banking crisis

“We won’t stop there” And “we will do whatever is necessary”, he added after the supervision by the American authorities of this establishment close to the technological circles. They also intervened with great haste in the face of the failure of two smaller banks. If bank deposits are guaranteed, Joe Biden assured that investors and shareholders would not be “protected” in the face of losses.