Biden has said: Americans can rest assured that our banking system is safe. Your deposits are safe

3/16/2023

Biden has said: Americans can rest assured that our banking system is safe. Your deposits are safe.

He said fully: “Americans can rest assured that our banking system is safe.Your deposits are safe,” Biden said from the Roosevelt Room. “Let me also assure you we will not stop at this. We will do whatever is needed on top of all this.”

Biden said: I am committed to "holding those responsible for this mess fully accountable."

He fully said:

At my direction, @SecYellen and my National Economic Council Director worked with banking regulators to address problems at Silicon Valley Bank and Signature Bank. I’m pleased they reached a solution that protects workers, small businesses, taxpayers, and our financial system.

The American people and American businesses can have confidence that their bank deposits will be there when they need them.

I’m firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again. I’ll have more to say on this tomorrow morning.

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