March 23, 2023
Warren Buffett

Warren Buffett

┬ęShutterstock / Fotodom

The administration of American leader Joe Biden consulted with the founder of the Berkshire Hathaway holding, billionaire Warren Buffett, amid the banking crisis in the United States. On Sunday, March 19, the agency reports Reuters with a link to the source.

According to the interlocutor of the publication, high-ranking officials negotiated with the businessman. However, he declined to elaborate on the details of the conversation.

On consulting with Buffett also became known Bloomberg. According to the newspaper, several conversations took place last week. During the discussions, Buffett was asked to invest in the regional banking sector. In addition, the billionaire gave advice on the current situation, the agency writes.

Previously, Buffett has already helped American banks in crisis situations. In particular, in 2011 he received an injection of capital from Bank of America after shares fell amid losses due to subprime mortgages.

Yesterday, Joe Biden said that the banking crisis in the country is over. Last week regulators shut down Silicon Valley Bank and New York’s Signature Bank due to systemic risks. The bankruptcy of Silicon Valley Bank was the largest in the US since the 2008 crisis. The collapse is associated with an increase in the discount rate of the US Federal Reserve, which led to the depreciation of assets on the balance sheets of many financial institutions. In 2022, the cumulative losses of banks amounted to $620 billion, according to the FDIC.

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