CLEVELAND — In the days since the collapse of the California-based Silicon Valley Bank, President Joe Biden has stressed that the U.S. banking system is safe and that customer’s assets will still be available.

Those assets have been taken over by the Federal Deposit Insurance Corporation, and Biden noted losses are being covered via fees paid by banks into the Deposit Insurance Fund.

Greg Harmon, an assistant professor of banking and finance at Case Western Reserve University’s Weatherhead School of Management, who also is an experienced investor, trader and former banking executive, explained what the banking failure could mean.