Bank collapsed in the United States. HSBC buys a British subsidiary of Silicon Valley Bank

Despite the collapse of the Silicon Valley bank, economists do not consider that there is a danger that the global economy will be drawn into an unprecedented crisis, as happened in 2008.

From France comes the guarantee of Finance Minister Bruno Le Maire The collapse of US banks poses no danger to the US banking system. But he added, speaking to France Info Le Mer radio, that the situation is being monitored.

Now the President of the United States She promised that those responsible for the country’s bank failures would be held accountable. with the current situation, Joe Biden emphasized that American citizens and businesses can count on bank deposits.The statement comes after US regulators announced, on Friday, another bank closure – the second, within three days. New York-based Signature is one of the largest banks associated with the cryptocurrency industry.

US Treasury Secretary Janet Yellen on Sunday declined to provide a bailout for the bank and emphasized that the Biden government is working closely with regulators to help SVB clients.

“Let me make it clear that during the financial crisis there were investors and large systemic bankers who were bailed out and the reforms in place mean we will not do that again.”Yellen has been featured on CBS’s Face the Nation.

The US banking system is safe, well capitalized, and resilient. Americans can count on the integrity and health of our banking system.”

The California-based SVB announced on Wednesday that it is seeking to raise capital to overcome financial difficulties. After this announcement, Many customers withdrew their money and regulators closed the bank on Friday due to a lack of liquidity. After that, the company’s share price collapsed, which in turn affected the banking industry in general, both in the United States and in other countries.

On Sunday, US regulators announced a deposit protection scheme for SVB clients.The Treasury Department, the Federal Reserve (Fed), and the Federal Deposit Insurance Corporation (FDIC) said in a joint statement that customers will be able to access all funds held in SVB.

With this plan, the three applicant entities, US taxpayers “will not bear the losses” of the bank and deposits will be protected in order to “facilitate access to credit for families and businesses.”