Biden said there are no threats to the US banking sector

There is no threat of an imminent collapse of the American banking sector in the near future. This was stated by US President Joe Biden , speaking before the Parliament of Canada .

“I think it will take some more time for things to calm down,” Biden said.

According to the American president, people's deposits are insured, and American regulators are ready to take additional measures if necessary.

In March, three banks failed in the US: Silicon Valley Bank (SVB), Signature Bank and Silvergate Bank. SVB became the largest failed bank in the US in 15 years, it ranked 16th in terms of assets in the country (at the end of 2022, assets amounted to $211.8 billion, of which $120.1 billion were investments in securities, $73.6 billion - issued loans).

On March 21, Bloomberg reported that the US Treasury is exploring the possibility of removing the current $250,000 insurance limit on deposits and starting to insure any deposits. This was requested by the Mid-Size Bank Coalition of America, which includes financial institutions with assets up to $100 billion.