US Treasury Secretary Janet Yellen’s comment is the first explicit indication of regulators' views about the limits of the extraordinary guarantee for uninsured deposits at Silicon Valley Bank and Signature Bank.
“A bank only gets that treatment,” she told US Republican Senator James Lankford, if supermajorities of the boards of the, the Federal Deposit Insurance Corporation , and “I, in consultation with the president, determine that the failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences.”
“I can reassure the members of the committee that our banking system is sound, and that Americans can feel confident that their deposits will be there when they need them,” Yellen said. In their cases, Yellen said, “the chances of contagion that other banks might be regarded as unsound and suffer runs, seemed extremely high, and the consequences would be very serious.”
anchored by the Fed. The actions have been greeted with both relief and astonishment in Congress, where Democrats control the Senate and Republicans hold the House of Representatives.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Philippine banking system ‘sound’ amid US bank failures, recession fears – DOF'There is no reported exposure of Philippine banks to Silicon Valley Bank,' says Finance Secretary Benjamin Diokno following the biggest bank failure since the 2008 financial crisis.
Baca lebih lajut »
PNP frees Rep. Teves’ secretary after DOJ drops caseMANILA, Philippines — The Philippine National Police (PNP) confirmed the release of the secretary of Negros Oriental Representative Arnolfo Teves Jr. after the Department of Justice (DOJ)
Baca lebih lajut »
First Republic Bank weighing options including sale – Bloomberg NewsU.S. private lender First Republic Bank is exploring strategic options including a sale, Bloomberg reported on Wednesday, citing people with knowledge of the matter. The troubled bank is
Baca lebih lajut »
After two historic US bank failures, here’s what comes next | The Associated PressTwo large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks is safe. It's all eerily reminiscent of the financial meltdown that…
Baca lebih lajut »
Investors tiptoe back into US bank stocks, regulators probe SVB collapse(1st UPDATE) Shares of US regional banks nudge up on hopes the worst of the market rout is over, though uncertainty remains in the financial sector
Baca lebih lajut »
Signature Bank's closure had 'nothing to do with crypto' – New York regulatorSignature Bank board member Barney Frank earlier claimed ‘regulators wanted to send a very strong anti-crypto message.’
Baca lebih lajut »