US Treasury Secretary Janet Yellen has said that emergency measures used to back Silicon Valley Bank and Signature Bank customers could be used again if required. Yellen added that the federal government would take additional measures if needed to ensure that American deposits were safe.
Yellen says the US Treasury is ready to take ‘additional actions if warranted’ to stabilize banks, changing her comments from yesterday
3/23/2023
The statements came as smaller and mid-sized regional banks experienced a rush of withdrawals following the collapse of Silicon Valley Bank. Some lawmakers have criticised the decision to insure deposits at SVB and Signature, arguing that it rewarded banks that took excessive risks.
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