U.S. President Joe Biden said Friday that while country's banks are in good shape with deposits remaining secure, it will take time to restore calm and prove the resilience of mid-sized institutions.

“The banks are in pretty good shape,” Biden told reporters after a meeting in Ottawa with Canadian Prime Minister Justin Trudeau. “What’s going on in Europe isn’t a direct consequence of what’s happening in the United States.”

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U.S. President Joe Biden said Friday that while country's banks are in good shape with deposits remaining secure, it will take time to restore calm and prove the resilience of mid-sized institutions.

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MNI BRIEF:Biden-Banks In Good Shape, Gets Unease About Midsize