President Joe Biden spoke out Monday morning in an effort to reassure Americans there is no need for panic after federal agencies stepped in following the failures of two big banks over the weekend. “Americans can have confidence that the banking system is safe. Your deposits will be there when you need them,” Biden said from the White House. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in Santa Clara, Calif., March 10, 2023. A security worker reads a newspaper inside of one the Signature Bank branches in New York City, March 12, 2023.

Source: ABC News March 13, 2023 19:55 UTC