Home » Business » Selling a Silicon Valley bank branch in Britain for a pound sterling – BBC News Arabic

Selling a Silicon Valley bank branch in Britain for a pound sterling – BBC News Arabic

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Joe Biden, addressing Americans that the financial system is safe

US President Joe Biden said the US will do “whatever is needed” to support banks after a series of failures raised concerns about financial stability.

Biden’s comments came after the United States guaranteed all deposits at Silicon Valley Bank and Signature Bank, which collapsed last week, and as authorities attempted to prevent people from withdrawing their money from banks. While Biden called on Americans to check on the American banking system.

Biden confirmed that people and companies with money deposited with Silicon Valley Bank will be able to access all their money starting Monday.

Taxpayers will not bear any losses from this step, which provides protection for the amounts of up to $ 250,000 in deposits that are usually insured by the government, and instead the authorities will finance these sums from the bank itself.

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