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Radio France Internationale
Radio France Internationale
RFI

World leaders rally to reassure markets, public on US banking crisis

A branch of the Silicon Valley Bank, in the United States. © AFP

President Joe Biden has assured US taxpayers that they will not have to pay for losses in the banking sector, after French and German authorities said that recent collapse of several US banks pose no danger to European financial institutions.

The collapse of Silicon Valley Bank (SVB) and the failure of Signature Bank have created a wave of uncertainty in global financial circles.

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