The banking sector continues to be the protagonist this Monday in the US stock market. Wall Street is trading slightly lower, but banks are collapsing despite Silicon Valley bank bailouts. Wells Fargo and Citigroup 6% left and JP Morgan it falls by 1%, but attention is undoubtedly directed to the most affected regional banks.

Actions First Republic they fall out by more than 75%; those of Western Alliance 84% remained, and those PackWest Bancorp, 55%. The bankruptcy of Silicon Valley Bank and the subsequent intervention of state bodies in it led to the fall of the sector not only in the US, but also in Europe.

This situation led to the fact that President Joe Biden had to make a statement about this. Biden wanted to send a signal of calm to Americans (before Wall Street reopened) by emphasizing that the country’s banking system was “safe” and reassuring customers of Silicon Valley Bank and Signature Bank that they would receive their deposits.

“Your deposits will be there when you need them,” he said in a brief speech to the press a day after regulators launched the Silicon Valley Bank (SVB) deposit protection plan in the wake of its collapse and shut down another banking institution. Signature bankby the same parameters.

U.S. regulators launched this Sunday a plan to protect deposits Silicon Valley Bank (SVB) after its collapse, and another banking institution, Signature Bank, closed on the same parameters.

The Treasury Department, the Federal Reserve System (FRS) and the Federal Deposit Insurance Corporation (FDIC) announced in a statement that customers will have access starting this Mondayon all money deposited in SVB.

With this plan, they assured the taxpayers “they won’t suffer losses” banks and deposits will be protected to “ensure access to credit for households and companies.” Instead of, shareholders and some debt holders will not be protected by these measures.