Biden said the situation with banks in the United States had calmed down
President UNITED STATES Joe Biden announced the end of the country’s banking crisis. This is reported RIA News.
In a conversation with reporters, the head of the White House answered in the affirmative when asked whether the situation with banks in the United States had calmed down.
On March 10, California regulators shut down Silicon Valley Bank. It became the biggest bank failure in the 15 years following the 2008 crisis. SVB suffered collapse due to an increase in the discount rate US Federal, leading to the depreciation of assets on the balance sheets of many financial institutions. To the bank’s financial problems were added the massive withdrawal of customer deposits.
March 12 also farm Signature Bank. In a joint statement US Treasurythe Federal Reserve System and the Federal Deposit Insurance Corporation, authorities were said to have taken such action due to the credit institution’s systemic risks.