Watch live: Treasury Secretary Janet Yellen testifies at Senate hearing
Publishing timestamp: 2023-03-22 14:41:54
Summary
Treasury Secretary Janet Yellen will testify before the Senate Appropriations Committee about emergency actions taken to stabilize the banking system after two bank failures earlier this month. While deposit outflows from regional banks have stabilized, the amount of money banks borrowed from the Fed's discount window suggests that the sector is not yet stable. Lawmakers are questioning whether uninsured deposits at failed banks will be covered in the future.
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