(VOVWORLD) - US President Joe Biden on Monday said that American people and businesses can rest assured that the banking system is safe and their deposits can be accessed whenever they need, after Silicon Valley Bank and Signature Bank collapsed, adding that his administration acted quickly over the past few days.
 US President Joe Biden (Photo: Xinhua) |
Biden pledged to get a full accounting of what happened and why so those responsible can be held accountable.
Biden noted that he will ask Congress and banking regulators to strengthen bank rules to make it less likely this kind of bank failure would happen again and to protect American jobs and small businesses.