Yellen Says US Will Intervene If Needed to Protect Smaller Banks

Summary by Boston Globe

Treasury Secretary Janet Yellen is trying project calm after regional bank failures, saying the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability.

Published 2 months ago · Washington, United States

News Articles

More
Filters

All

Left

Center

Right

Times of India

US banking sector 'stabilizing' after recent turmoil: Janet Yellen

The collapses caused a crisis of confidence, with many customers of similarly sized banks withdrawing their money and depositing it in larger institutions -- considered too big for the government not to bail them out if they faced failure. But "aggregate deposit outflows from regional banks have stabilized" following authorities' moves to shore up confidence and stem contagion, according to Yellen's remarks.

2 months ago·Mumbai, India

Read Full Article

The Guardian

Janet Yellen will pledge to protect depositors at smaller US banks

US officials step in to guarantee deposits after smaller US banks have been pummeled by a wave of withdrawals, triggering crisis

2 months ago·London, United Kingdom

Read Full Article

Reuters

Yellen vows to safeguard deposits at smaller U.S. banks, intervene if needed

U.S. Treasury Secretary Janet Yellen told bankers on Tuesday that she is prepared to intervene to protect depositors in smaller U.S. banks suffering deposit runs that threaten more contagion amid the worst financial system turmoil in more than a decade.

2 months ago·United Kingdom

Read Full Article

The Hindu

Treasury Secretary Janet Yellen says bank situation ‘stabilising’, system is ‘sound’

U.S. Treasury Secretary Janet Yellen says bank situation ‘stabilising’, system is ‘sound’

2 months ago·India

Read Full Article

CTV News

Yellen says bank situation stabilizing, different from 2008

Treasury Secretary Janet Yellen is trying project calm after regional bank failures, saying the U.S. banking system is 'sound' but additional rescue arrangements 'could be warranted' if any new failures at smaller institutions pose a risk to financial stability.

2 months ago·Toronto, Canada

Read Full Article

USA Today

Yellen: Bank case 'stabilizing,' system is 'sound'

Treasury Secretary Janet Yellen is trying to project calm after recent regional bank failures in California and New York, saying additional bank rescue plans “could be warranted” if any new failures at smaller institutions threaten stability. (March 21)

2 months ago·United States

Read Full Article