US President Joe Biden has sought to dispel fears over a potential financial crisis following the rapid collapse of two major US banks, saying customers would be protected and can trust that the country’s banking system is safe. Biden on Monday said he would seek to hold those responsible to account and push for better oversight and regulation of larger banks. The President also promised that “no losses would be borne by the taxpayers”. US regulators closed the Silicon Valley Bank (SVB) on Friday after it experienced a traditional bank run, where depositors rushed to withdraw their funds all at once.