Biden urged Americans to trust the US banking system
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US President Joe Biden addressed the nation on Monday over the collapse of Silicon Valley Bank and Signature Bank. The American leader asked the Americans to be confident in the security of the country’s banking system.
“Your deposits will be there when you need them,” Biden said.
He added that in this way, small businesses across the country that have deposit accounts with these banks “can breathe a sigh of relief.”
They know they can pay their employees and pay their bills, he said.
In addition, he promised that the management of bankrupt banks would be fired.
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