Amid the shutdown of three banks in the United States within a week, President Joe Biden has said that American people and American businesses can have confidence that their bank deposits will be there when they need them. "I'm firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again," the US President added. President Joe Biden's statement comes after the Federal Reserve on Sunday said that Signature Bank has been shut down by state authority. The collapse of Signature Bank marks the end of the third bank this week, following Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown on Wednesday and Friday respectively. Signature Bank Closure: Coinbase Says It Has About $240 Million Cash Balance With Collapsed New York-Based Lender.

I’m Firmly Committed to Holding Those Responsible

US President Joe Biden Dodges Question After Assuring Action

(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)