The US Banking Crisis Isn’t Over Yet: Joe Biden

The President of the United States – Joe Biden – thinks the turbulence that recently shook the banking sector is not entirely gone. As such, his cabinet is ready to impose further legislative changes to cope with any potential issues in the future.

Two of America’s leading banks – Silicon Valley Bank (SVB) and Signature Bank – experienced severe operational issues and were shut down by regulators earlier this month. Major institutions outside the States, including Credit Suisse and Deutsche Bank – also revealed liquidity problems.