In an interview with CBS’s “Face the Nation” on Sunday, the US Treasury Secretary Janet Yellenoffered some details about the next steps of the Government.
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“We’re not going to do it again. there will be no bailout for SVB“.
“But we care about depositors, and we’re focused on trying to meet their needs.”
“He American banking system is really safe and well capitalizedeither. It’s tough.”
“The rise in interest rates, which have been raised by the Federal Reserve to combat inflation, has been Silicon Valley Bank’s main problem.”
“Problems with the technology sector are not at the core of this bank’s problems.”
“We expect regulators to consider a wide range of available options, including the acquisition of Silicon Valley Bank by another institution.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
