Monday, March 27, 2023

SVB working to address collapse, but not considering bailout: US Treasury Secretary – Usky News

Washington. We treasury Secretary Janet Yellen said on Sunday that it was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a larger bailout was not being considered.
Yellen said, “Let me be clear that during the financial crisis, it was the investors and owners of the systemically large banks who were bailed out…and the reforms that have been put in place mean that we can’t do that again.” are going.” CBS News Sunday Morning Show.
“But we are concerned about depositors and focused on trying to serve their needs,” Yellen said.


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