KONTAN.CO.ID - WASHINGTON. U.S. President Joe Biden said on Tuesday he has done what is possible to address the banking crisis with available authorities but that it is "not over yet."

Asked if the administration would not take any more executive action to address the matter, Biden said "Oh no, It's not over yet. We're watching very closely."

The failures of Silicon Valley Bank (SVB) and, days later, Signature Bank, set off a broader loss of investor confidence in the banking sector that pummeled stocks and stoked fears of a full-blown financial crisis.