March 10, 2023 19:46 GMT
MNI BRIEF: Yellen Gathers Regulators On SVB; Banks 'Resilient'
(MNI) WASHINGTON
Yellen expresses full confidence that banking regulators will take appropriate actions.
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U.S. Treasury Secretary Janet Yellen on Friday convened leaders from the Federal Reserve and other banking regulators to assess the risks to the financial system from the collapse of Silicon Valley Bank.
"Secretary Yellen expressed full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event," the Treasury said in a statement.
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