A branch of US Silicon Valley Bank in Santa Clara, California, March 10, 2023.
Washington – US President Joe Biden reassured Americans after the collapse of Silicon Valley Bank (SVB) , that their deposits will be available. According to Reuters, he also said that he wants to hold accountable those responsible for the “trouble”. He does not intend to use taxpayers' money to solve the situation.
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“Americans and American businesses can rest assured that their bank deposits will be available when they need them,” Biden said in a statement. “I am firmly determined to hold those responsible for this mess fully accountable, and to continue our efforts to strengthen the supervision and regulation of larger banks so that we do not end up in a similar situation again,” he added.
SVB collapse is the largest bank failure in the US since 2008. The Federal Deposit Insurance Corporation (FDIC) was appointed as the administrator of the bank. She stated that the bank's assets are $209 billion (CZK 4.6 trillion) and deposits are $175.4 billion.
There are fears that the collapse will have a knock-on effect on American regional banks, among others.
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