Yellen says Treasury is ready to take 'additional actions if warranted' to stabilize banks
Publishing timestamp: 2023-03-23 16:56:47
Summary
Treasury Secretary Janet Yellen has stated that federal emergency actions to back up Silicon Valley Bank and Signature Bank customers could be deployed again in the future if necessary. However, there are concerns over the stability of small and mid-sized regional banks and criticism of the decision to insure deposits at SVB and Signature Bank. The current FDIC insurance limit of $250,000 was set in 2010, and Congress has the power to temporarily suspend the limit. However, there is currently no consensus on whether to raise the limit across all deposits.
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Keywords: janet yellen, white house, washington, breaking news: politics, u.s. department of the treasury, congress, politics, secretary of the treasury, economic events, business news, economy, signature bank,