U.S. President Joe Biden reassured depositors of the ''Silicon Valley'' bank that went bankrupt due to a liquidity crisis and sparked panic in U.S. and global markets, confirming that the crisis is under control.

Biden said in televised remarks from the White House today, Monday, that the government guarantees that depositors will recover their money but taxpayers will not bear the responsibility of compensating the losses of Silicon Valley Bank depositors, explaining that the funds will come from the fees that banks pay to insure deposits.

He also added: "Americans can trust that the banking system is safe.. Your deposits will be there when you need them."

Biden said he will seek to impose stricter rules following the collapse of Silicon Valley Bank, announcing that the bank's directors will be fired.

Confidence appears to be shaken in the banking sector after three bankruptcies in recent days of Silicon Valley Bank, Signature Bank, and Silvergate Bank.

U.S. authorities have taken many measures over the weekend to try to restore confidence in the U.S. banking system and avoid massive deposit withdrawals that could further weaken these institutions.