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March 14, 2023

Biden insists banking system is safe after 2 bank collapses

By KEN SWEET, CHRISTOPHER RUGABER, CHRIS MEGERIAN and CATHY BUSSEWITZ
Associated Press

NEW YORK — President Joe Biden insisted Monday that the nation's banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures.

“Your deposits will be there when you need them,” Biden said.


 
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