SVB solution ensures taxpayer dollars are not put at risk: Joe Biden ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 52
US President Joe Biden has assured the American people and businesses that a resolution of the collapse of the Silicon Valley Bank will not put taxpayer's money at risk, and they can have confidence that their bank deposits would be there when they need it. In a late-night statement on Sunday, Biden also announced that on Monday morning he will deliver remarks on how the US will maintain a resilient banking system to protect the economic recovery. The California-based Silicon Valley Bank (SVB), the 16th largest bank in the United States, was closed on Friday by the California Department of Financial Protection and Innovation which later appointed the Federal Deposit Insurance Corporation (FD

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