Published 1 year ago

Yellen says no federal bailout for Silicon Valley Bank

Summary by Ground News

Treasury Secretary Janet Yellen says government will not bail out Silicon Valley Bank. Yellen: Federal Deposit Insurance Corporation insures deposits up to $250,000. Many of the companies and wealthy people who used the bank had more than that. There are fears that some workers across the country won't receive their paychecks.

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Times of India

Yellen says no federal bailout for Silicon Valley Bank

Yellen, in an interview with CBS' “Face the Nation,” provided few details on the government's next steps. But she emphasized that the situation was much different from the financial crisis almost 15 years ago, which led to bank bailouts to protect the industry.

1 year ago·India

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BBC News

Silicon Valley Bank: Offer made for UK arm of failed US lender

UK customers warn they might not be able to pay staff after Silicon Valley Bank collapses.

1 year ago·United Kingdom

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The Guardian

US guarantees all deposits after Silicon Valley Bank collapse, as Biden promises action

Announcement comes as Signature Bank was closed on Sunday by regulators – the second to fail in a week

1 year ago·London, United Kingdom

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The Hindu

U.S. govt. rules out SVB bailout, wants to avoid 'contagion': Treasury Secretary Yellen

U.S. Treasury Secretary Janet Yellen said reforms made after the 2008 financial crisis meant the government was not considering a bailout for SVB

1 year ago·India

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CTV News

Yellen: No federal bailout for collapsed Silicon Valley Bank

U.S. Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.

1 year ago·Canada

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