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The White House said on Monday that the US banking system is safe despite the pressures on some institutions after the collapse of two banks in the United States.
“Because of the decisive actions that we’ve seen … from our administration and banking regulators as well as from the Treasury Department, the banking system is safe,” White House spokeswoman Karen Jean-Pierre told reporters.
The collapse of (Silicon Valley) and (Signature) banks increased fears of contagion to other banks, prompting US officials to intervene.