After SVB sale, White House says banking system is 'safe'
Reuters
Published Mar 27, 2023 02:39PM ET
Updated Mar 27, 2023 03:21PM ET
WASHINGTON (Reuters) -The White House said on Monday that the U.S. banking system is safe despite stress on some institutions after two American banks collapsed, ratcheting up fears of a contagion that prompted U.S. officials to respond.
Asked whether the worst of the banking crisis was behind the country after failed Silicon Valley was purchased with the aid of a government backstop, the White House's top spokesperson said Americans should not worry.
"Because of the decisive actions that we have seen ... from our administration, the banking regulators and also the Treasury Department, the banking system is safe," White House press secretary Karine Jean-Pierre told reporters. "Americans can be confident," she said.
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Written By: Reuters
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