The Biden administration laid out steps that will require banks to protect themselves against potential losses.
His proposal does not need congressional approval as it could be accomplished by regulators, the Biden administration said Thursday. The administration lays out steps that would require banks to protect themselves against potential losses and maintain enough access to funds to carry them through a potential collapse.technology and health startup businesses
However, the once-trusted bank of venture capital investors was shut down by the Federal Deposit Insurance Corporation on March 10 after customers began a run on their deposits the previous day. The run was at least partially blamed on rising interest rates that devalued the bank's security and ill-fated investments.
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