US President Joe Biden promised to make an appeal on the protection of the country’s banking system on Monday, March 13.
“Tomorrow morning I will give a speech on how we will maintain a strong banking system to protect the historic economic recovery,” – said in the message of the President.
In addition, Biden said that the US Secretary of the Treasury and the director of the National Economic Council have come up with a solution that will protect American workers and businesses from the consequences of the bankruptcy of Silicon Valley Bank and Signature Bank.
Recall, on March 11, it became known about the bankruptcy of Silicon Valley Bank, one of the most recognizable creditors in the technology startup industry. All insured deposits were transferred to a new organization – Deposit Insurance National Bank of Santa Clara. The SVB bankruptcy was the largest since the 2008 global financial crisis.
The American online publication Axios claims that a banking crisis will occur in the United States if the government does not resolve the issue with Silicon Valley Bank.
