Yellen expressed her “full confidence” in bank regulators
The US Treasury Secretary Janet Yellen met with Federal Reserve officials today (Fed), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) to discuss developments surrounding Silicon Valley Bank, according to a statement issued by the department.
Helen expressed “her complete trust” to the banking regulatory authorities, that they will take appropriate measures and noted that “the banking system remains resilient and the regulatory authorities have effective tools to deal with these types of events”.
The White House has confidence in U.S. financial regulators, a spokeswoman said tonight when asked about developments surrounding SVB Financial Group, the country’s biggest bank failure since the 2008 crisis.
Cecilia Rauss, who chairs the committee of Financial Advisers, expressed her confidence in regulators when asked about the bank, which was entrusted to the Federal Deposit Insurance Corporation (FDIC).
Rauss said the US banking system is significantly stronger today than it was during the 2008 financial crisis.
Source: Skai
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