EIGHT KUWAITI BANKS CONFIRM NO EXPOSURE TO SILICON BANK – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

EIGHT KUWAITI BANKS CONFIRM NO EXPOSURE TO SILICON BANK – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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Biden reassures US banks sound; KFH exposure at $1.2 mn

NEW YORK, March 13, (Agencies): US President Joe Biden on Monday told US residents the nation’s financial systems are sound, following the swift and stunning collapse of two banks that prompted fears of a broader upheaval. “Your deposits will be there when you need them,” he said. U.S. regulators closed the Silicon Valley Bank on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once.