Treasury Secretary Yellen says not all uninsured deposits will be protected in future bank failures
Publishing timestamp: 2023-03-16 17:35:52
Summary
Treasury Secretary Janet Yellen reassured markets and lawmakers that the federal government is committed to protecting U.S. bank deposits following the failure of Silicon Valley Bank and Signature Bank. Yellen stated that not all depositors will be protected over FDIC insurance limits of $250,000 per account, and only uninsured deposits at banks deemed systemic risk will be protected. Congress is currently weighing legislative proposals to prevent future bank failures, including increasing the FDIC insurance limit.
Sentiment: THE IS NEUTRAL
Keywords: svb financial group, business news, politics, markets, economic events, white house, washington, signature bank, united states, economy, congress, janet yellen, breaking news: politics,