US President Biden says bank deposit solutions avoids putting taxpayer funds at risk

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US President Biden says bank deposit solutions avoids putting taxpayer funds at risk

<p>US President Biden on the SVB depositor solution. </p><ul><li>
Treasury secretary and national economic council director reached
solution with banking regulators</li><li>The solution avoids
putting taxpayer dollars at risk</li><li>American people and
American businesses can have confidence that their bank deposits will
be there when they need them</li><li>Committed to
'holding those responsible for this mess fully accountable'</li><li>Will deliver remarks
on Monday morning on how we will maintain a resilient banking system
to protect our historic economic recovery</li><li>Plans to continue
efforts to strengthen oversight of larger banks</li></ul><p>ICYMI:</p><ul><li><a href="https://www.forexlive.com/centralbank/and-done-federal-reserve-announces-emergency-lending-facility-20230312/" rel="follow" target="_self" class="article-link vertical-align-baseline">Federal Reserve announces emergency lending facility. Deposits to be guaranteed</a></li></ul><p>

Background:</p><ul><li><a href="https://www.forexlive.com/news/monday-morning-open-levels-indicative-forex-prices-13-march-2023-20230312/" rel="follow" target="_blank" data-article-link="true" class="article-link">Monday morning open levels - indicative forex prices - 13 March 2023</a></li></ul><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline"><a href="https://www.forexlive.com/news/chatter-is-that-hsbc-and-jp-morgan-are-exploring-buying-troubled-bank-svb-20230312/" rel="follow" target="_self" class="article-link vertical-align-baseline">Chatter is that HSBC and JP Morgan are exploring buying troubled bank SVB</a></li></ul><ul class="text-align-start vertical-align-baseline"><li class="vertical-align-baseline"><a href="https://www.forexlive.com/centralbank/more-svb-federal-reserve-examining-steps-to-make-funding-easier-as-backstop-for-banks-20230312/" rel="follow" target="_self" class="article-link vertical-align-baseline">More SVB - Federal Reserve examining steps to make funding easier as 'backstop' for banks</a></li><li class="vertical-align-baseline"><p class="article-slot__title title top"><a href="https://www.forexlive.com/news/first-republic-assures-clients-of-continued-strength-of-capital-liquidity-operations-20230312/" rel="follow" target="_self" class="article-link">First Republic assures clients of continued strength of capital, liquidity, operations</a></p></li></ul><p class="text-align-start vertical-align-baseline">Adam and Justin had eyes on developments all weekend (read from the bottom up for the chronology:</p><ul><li><a href="https://www.forexlive.com/Cryptocurrency/bitcoin-isnt-waiting-for-the-bailout-announcement-as-it-takes-off-in-7-rally-20230312/" rel="follow" target="_self" class="article-link">Bitcoin isn't waiting for the bailout announcement as it takes off in 7% rally</a></li><li><a href="https://www.forexlive.com/news/us-government-to-make-material-announcement-on-silicon-valley-bank-today-report-20230312/" rel="follow" target="_self" class="article-link">US government to make 'material' announcement on Silicon Valley Bank today - report</a></li><li><a href="https://www.forexlive.com/news/yellen-svb-collapse-clearly-a-concern-20230312/" rel="follow" target="_self" class="article-link">Yellen: SVB collapse 'clearly a concern'</a></li><li><a href="https://www.forexlive.com/news/svb-collapse-whats-next-20230312/" rel="follow" target="_self" class="article-link">SVB collapse: What's next?</a></li><li><a href="https://www.forexlive.com/centralbank/fed-in-talks-to-create-a-fund-to-backstop-deposits-if-more-banks-fail-report-20230312/" rel="follow" target="_self" class="article-link">Fed in talks to create a fund to backstop deposits if more banks fail - report</a></li></ul><p>More:</p><ul><li><a href="https://www.forexlive.com/centralbank/us-treasury-official-says-banks-not-being-bailed-out-depositors-are-being-protected-20230312/" rel="follow" target="_self" class="article-link vertical-align-baseline">US Treasury official says banks not being bailed out, depositors are being protected</a></li><li><a href="https://www.forexlive.com/centralbank/us-official-says-banks-not-being-bailed-out-nah-theyre-being-bailed-out-heres-how-20230312/" rel="follow" target="_self" class="article-link">"US official says banks not being bailed out" - nah, they're being bailed out, here's how</a></li></ul>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: US President Biden says bank deposit solutions avoids putting taxpayer funds at risk

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