Original version

No Master Brand

BBC Afghan Radio

Newshour

News

Interviews, news and analysis of the day's global events.

BBC World Service Online

BBC World Service schedule for American satellite radio and the Caribbean

BBC World Service Americas and the Caribbean

BBC World Service

BBC World Service Europe and the Middle East

Newshour: 13/03/2023 21:06 GMT: Biden pledges 'whatever is needed' amid bank fears

Magazines & Reviews

BidenSVBpix.jpg

13/03/2023 21:06 GMT

13/03/2023 21:06 GMT: Biden pledges 'whatever is needed' amid bank fears

Biden pledges 'whatever is needed' amid bank fears

BBC World Service - Newshour, Biden pledges 'whatever is needed' amid bank fears

US authorities say they will guarantee deposits after two banks collapse

US authorities say they will guarantee deposits after two banks collapse.

Stocks in some US banks have continued to fall, despite President Biden's attempt to reassure Americans their money is safe after the collapse of Silicon Valley Bank. At one point shares in Western Alliance fell by 80%. Another bank First Republic was down by 75%. Earlier, Mr Biden used a televised address from the White House to say he would do whatever was needed to maintain stability. Stock markets across Europe closed down by more than 2%, with some banks suffering much steeper falls. Credit Suisse closed at a record low after declining by nearly 10%.

Also in the programme: Malawi declares a state of emergency as it struggles to deal with tropical storm Freddy - still battering south East Africa; and a nuclear powered submarine plan for Australia - so how will it affect tensions between the West and China?

(Photo: United States President Joe Biden delivers remarks on the United States banking system after the collapse of Silicon Valley Bank (SVB) 13 March 2023. Credit: Chris Kleponis/POOL/EPA-EFE/REX/Shutterstock)

Accessibility links

Programme Index

Newshour

13/03/2023 21:06 GMT: Biden pledges 'whatever is needed' amid bank fears

Genres

Formats

Brand

BBC Afghan Radio