Wednesday, March 22, 2023

Yellen: SVB, Signature Bank turmoil had ‘serious risk of contagion’: Yellen – Usky News

Washington: US officials moved to protect depositors Silicon Valley Bank And as for Signature Bank, he saw a “serious risk of infection” that could start a run on multiple banks, treasury Secretary Janet Yellen Said Thursday.
Such treatment arises only when a majority of the Federal Deposit Insurance Corporation (FDIC) board, a majority of the Federal Reserve Board, and yellen He told members of Congress at a hearing, in consultation with the US President, to “determine whether failure to protect uninsured depositors would create systemic risk.”


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