US president Joe Biden on Thursday urged banking regulators to reinstate tough rules on mid-sized banks in the United States. The rules, as per AFP, were weakened under his predecessor Donald Trump.

To prevent SVB-like failures, Biden calls for revival of banking regulations weakened under Trump

The parent company of Silicon Valley Bank filed for bankruptcy protection after regulators seized the company's banking unit as concern spread among its long-standing clientele of tech startups.

SVB Financial, parent firm of Silicon Valley Bank, files for bankruptcy protection

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To prevent SVB-like failures, Biden calls for revival of banking regulations weakened under Trump

SVB Financial, parent firm of Silicon Valley Bank, files for bankruptcy protection