Treasury Secretary Yellen says the government could backstop more deposits if necessary to stop contagion
Publishing timestamp: 2023-03-21 15:53:26
Summary
Treasury Secretary Janet Yellen has stated that the government is willing to take further action to guarantee bank deposits are safe, including providing further guarantees of deposits if the banking crisis worsens. Yellen noted that regulators will be looking at whether stronger regulations will be needed to prevent similar situations in the future. Bank stocks, particularly at regional institutions, rose following the news.
Sentiment: NEUTRAL
Keywords: economy, jpmorgan chase & co, banks, first republic bank, breaking news: markets, jamie dimon, janet yellen, business news, spdr s&p regional banking etf,