Economic news

Biden said federal deposit insurance could be tapped further if banks fail

03/24/2023
Less than a minute

2023.03.24 18:06


© Reuters. U.S. President Joe Biden speaks during a joint news conference with Canadian Prime Minister Justin Trudeau, in Ottawa, Ontario, Canada, March 24, 2023. REUTERS/Blair Gable

OTTAWA (Reuters) – President Joe Biden said on Friday that federal deposit insurance could be tapped for deposits above $250,000 if other U.S. banks fail.

Biden said U.S. banks are in “pretty” good shape and said he doesn’t see an industry ready to explode.

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03/24/2023
Less than a minute

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