Treasury Secretary Janet Yellen says the U.S. banking system is “stabilizing” after the failure of two banks and the rescue of a third institution led to concerns of a broader crisis in the industry.
In prepared remarks to an American Bankers Association summit in Washington, Ms. Yellen said Tuesday that the administration’s actions to close Silicon Valley Bank in California and Signature Bank in New York “reduced the risk of further bank failures.”“Similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion,” she said. “The steps we took were not focused on aiding specific banks or classes of banks.
She said the Treasury Department “is committed to ensuring the ongoing health and competitiveness of our vibrant community and regional banking institutions.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Signature Bank taken over by Michigan-based Flagstar Bank after failureTreasury Secretary Janet Yellen has said the banking system 'remains sound' despite the recent bank failures.
Weiterlesen »
White House says talks in the works for Secretaries Yellen, Raimondo to visit China, discuss economic issuesA potential visit by Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo is in the works, National Security Council Spokesman John Kirby revealed Monday.
Weiterlesen »
U.S. sees deposits stabilizing as some regional banks reelA U.S. official said on Sunday that the deposit outflows that left many regional banks reeling in the wake of Silicon Valley Bank's failure had slowed and in some cases reversed, as investors tried to ascertain whether the crisis was contained.
Weiterlesen »
First Republic Bank Looms Large for U.S. Regulators After Credit Suisse SaleAfter UBS agreed to purchase Credit Suisse, Treasury Secretary Janet Yellen and Fed Chair Jerome Powell sought to reassure investors in the U.S. where First Republic Bank has become U.S. officials’ main concern
Weiterlesen »
US and European policymakers issue statement following UBS-Credit Suisse dealIn a joint statement on Sunday, US Federal Reserve Chair Powell and Treasury Secretary Yellen said that “the US banking system's capital and liquidity
Weiterlesen »
Treasury yields dive as banks angst seen causing Fed to stand patRush to havens after UBS takeover of Credit Suisse fails to stem contagion concerns
Weiterlesen »