Biden vows to do 'whatever needed' for bank system after SVB meltdown

Biden vows to do 'whatever needed' for bank system after SVB meltdown

U.S. President Joe Biden delivers remarks on the banking crisis after the collapse of Silicon Valley Bank (SVB) and Signature Bank, in the Roosevelt Room at the White House in Washington, D.C., U.S. March 13, 2023. REUTERS/Evelyn Hockstein

Bank stocks around the world plunged on Monday even as President Joe Biden vowed to take action to ensure the safety of the US banking system after the sudden collapse of Silicon Valley Bank and Signature Bank.