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Search resuls for: "David Lawder Doina Chiacu"


2 mentions found


☆ U.S. Treasury's Adeyemo sees no ability to 'triage' payments without debt limit hike
  + stars: | 2023-05-26 | by ( David Lawder Doina Chiacu | David Lawder | Doina Chiacu | ) www.reuters.com   time to read: +2 min
May 26 (Reuters) - Deputy U.S. Treasury Secretary Wally Adeyemo said on Friday that the U.S. government does not have the capability to "triage" payments if the debt ceiling is not raised, adding that invoking the 14th amendment to issue debt will not solve the government's challenges. After warnings of possible U.S. downgrades from credit ratings agencies, Adeyemo said he hoped that would not happen, but the debt ceiling standoff was already raising the cost of U.S. debt. He said government payment systems are not set up to allow payments to be delayed. "We don't have a Plan B that allows us to meet the commitments that we've made to our creditors, to our seniors, to our veterans, to the American people," Adeyemo said on CNN. Reporting by Doina Chiacu and David Lawder; Writing by David Lawder Editing by Doina ChiacuOur Standards: The Thomson Reuters Trust Principles.
☆ US banking system sound but not all deposits guaranteed, Yellen says
  + stars: | 2023-03-16 | by ( David Lawder Doina Chiacu | David Lawder | Doina Chiacu | ) www.reuters.com   time to read: +6 min
WASHINGTON, March 16 (Reuters) - The U.S. banking system remains sound and Americans can feel confident that their deposits are safe, Treasury Secretary Janet Yellen said on Thursday, but she denied that emergency actions after two large bank failures mean that a blanket government guarantee now existed for all deposits. "I can reassure the members of the committee that our banking system is sound, and that Americans can feel confident that their deposits will be there when they need them," Yellen said. More than $9.2 trillion of U.S. bank deposits were uninsured at the end of last year, accounting for more than 40% of all deposits, according to U.S. central bank data. Those uninsured deposits are not distributed evenly across the country, FDIC data shows. She also noted the high level of uninsured deposits at Silicon Valley as an aggravating factor.
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