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.
“We’re not going to do that again," she said."But we are concerned about depositors, and we’re focused on trying to meet their needs.” Yellen described rising interest rates, which have been increased by the Federal Reserve to combat inflation, as the core problem for Silicon Valley Bank. Many of its assets, such as bonds or mortgage-backed securities, lost market value as rates climbed.Yellen said she expected regulators to consider “a wide range of available options,” including the acquisition of Silicon Valley Bank by another institution. So far, however, no buyer has stepped forward.
“I’ve been working all weekend with our banking regulators to design appropriate policies to address this situation," Yellen said."I can’t really provide further details at this time.” Another Durant injury likely delays long-awaited reunion with Warriors fans Durant still has not played in front of Warriors’ fans in San Francisco since he left the team
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.
Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm: hiltzikm Venture capitalist are garbage people let them burn hiltzikm Biggest bank to fail since WAMU in 2008...this is unsettling news since we recall what 2008 was all about. hiltzikm This piece is incredibly ignorant. The author appears completely unaware of how California pays its bills, not to mention how this has already spread to LA; today, a major film production payroll company has informed clients it can't process payroll due to funds frozen at SVB.
Source: latimes - 🏆 11. / 82 Read more »
How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge Biden’s America. Are we having fun yet? bank crooks with silicon valley tech libs. boo hoo The money in SVB most are richest's and oversea dirty money from CCP families. Let it fail.
Source: WSJ - 🏆 98. / 63 Read more »
Silicon Valley Bank closure: Yellen says banking system 'resilient' as she meets with regulatorsSilicon Valley Bank was closed by the California Department of Financial Protection and Innovation after its parent SVB Financial lost a record 60% of its value. The bank’s failure is the second biggest in U.S. history. What’s she smoking they just lost 200 billion dolalrs
Source: MarketWatch - 🏆 3. / 97 Read more »
Janet Yellen: Government Is Monitoring the Silicon Valley Bank CrisisTreasury Secretary Janet Yellen said during a House Ways and Means Committee hearing Wednesday that the government continues to monitor the Silicon Valley Bank crisis. …I’m sure it’s just transitory… She needs to go She’s a incompetent reprobate
Source: BreitbartNews - 🏆 610. / 51 Read more »
Janet Yellen Convenes Regulators over Silicon Valley Bank CrisisTreasury Secretary Janet Yellen on Friday convened leading financial regulators over the Silicon Valley Bank crisis. She as competent as the test of JoeBiden admin. Is that jimmy saville reincarnated? It's apparent that woke banks go broke.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Yellen says no federal bailout for Silicon Valley BankWILMINGTON, Del. (AP) — 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 . Good. Thank you SecYellen The FDICgov should cover deposits up to $250k only. If Congress wants to increase that limit for the future it can pass legislation & FDIC can increase insurance charges to be prepared. SenatorHick SenatorBennet RepDianaDeGette I'll Have to See That Before I Trust Feds, Again... CreditScoresEmptySavings ✌️ OverDuesDone 🥠 Good. Be consistent.
Source: AP - 🏆 728. / 51 Read more »