and expressed "full confidence" in their abilities to respond to the situation and that the U.S. banking system remains resilient, the Treasury Department said.
The Treasury said in a statement that Yellen met with officials from the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency on Friday to discuss developments with SVB, which does business as Silicon Valley Bank. U.S. Treasury Secretary Janet Yellen testifies before a U.S. House Ways and Means Committee hearing on President Joe Biden's fiscal year 2024 Budget Request on Capitol Hill in Washington, U.S., March 10, 2023. REUTERS/Evelyn Hockstein
"Secretary Yellen expressed full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event," the Treasury said.SVB, appointing the FDIC as receiver to protect depositors at the startup-focused lender. The bank failure was the largest since the 2008-2009 financial crisis.
Source: Financial Digest (financialdigest.net)
There is only so much you can do when the US keeps increasing debt and chooses not to own up to the concept that devaluing the money supply increases inflation.
The Banking System is rock solid and continues to be the Foundation of the US Economy. I can wait for the sequel to the Big Short.
She got her kickbacks, nothing else mattered
Ms. Yellen’s shaky voice and trembling mannerisms do not foster confidence.
🤣🤣🤣
Ooo we're Aces Now
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Janet Yellen: Treasury Department is monitoring ‘a few banks’ including SVBTreasury Secretary Janet Yellen says Friday she's tracking Silicon Valley Bank’s problems as it deals with big losses. Can’t this open at any price? $300 400 $30 This lady has fkkkkked the economy Was the Silicon Valley Bank selling U.S. treasuries that it might have termed as securities?
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks making the biggest premarket moves: Silvergate, Etsy, SVB Financial, Uber and moreStocks making the biggest premarket moves: Silvergate, Etsy, SVB Financial, Uber & more How's that ESG working out?
Source: CNBC - 🏆 12. / 72 Read more »
Banks tumble as SVB ignites broader fears about the sectorThe S&P 500 bank index was down 4.6% on Thursday as investors grew wary of the entire sector after SVB Financial Group's share sale announcement and crypto bank Silvergate's decision to wind down operations. My toilet is about to tumble after I ate 10 jumbo chili dogs from Jared’s Rib House. And it will keep dropping until you have a change of consciousness and stop corrupting and corruption.
Source: Reuters - 🏆 2. / 97 Read more »
Bank carnage drags stocks lower as SVB Financial shares plungeA brutal day for banks drags down stocks on Thursday. Which banks next
Source: MarketWatch - 🏆 3. / 97 Read more »
Banks tumble as SVB ignites capitalization fearsThe S&P 500 bank index tumbled nearly 6% on Thursday in its biggest one-day drop in over two years as investors fled the industry following SVB Financial Group's share sale announcement and crypto bank Silvergate's decision to wind down operations. Thinker_View Fake value Fake profits. Dollar backed by war
Source: Reuters - 🏆 2. / 97 Read more »
Stocks making the biggest moves after hours: SVB Financial, Oracle, Gap and moreThese are the stocks posting the largest moves in postmarket trading. Bond/treasury note loss is a common situation now due to our governments, like TLT...However, rapidly pulling out money from the stock market or banks can be a serious situation for the stock market like in 2008. All banks are under FDIC...No need to panic...
Source: CNBC - 🏆 12. / 72 Read more »