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Search resuls for: "Sarah N. Lynch Rami Ayyub Andrea Shalal"


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☆ Working to address SVB collapse, but not looking at bailout, says Yellen
  + stars: | 2023-03-12 | by ( Sarah N. Lynch Rami Ayyub Andrea Shalal | Sarah N. Lynch | Rami Ayyub | ) www.reuters.com   time to read: +3 min
WASHINGTON, March 12 (Reuters) - U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank (SIVB.O) and protect depositors, but a major bailout was not being considered. Yellen told the CBS News "Face the Nation" show that she had been working with regulators to "design appropriate policies to address the situation," the largest bank collapse since the 2008 financial crisis, but declined to give further details. "But we are concerned about depositors and are focused on trying to meet their needs," Yellen said. California banking regulators on Friday closed SVB, appointing the Federal Deposit Insurance Corporation (FDIC) as receiver to protect depositors at the startup-focused lender. The collapse of the startup-focused bank has raised concerns about runs on regional banks, and the ability of small businesses that banked with SVB to pay their employees.
☆ Yellen: working to address SVB collapse, but not looking at bailout
  + stars: | 2023-03-12 | by ( Sarah N. Lynch Rami Ayyub Andrea Shalal | Sarah N. Lynch | Rami Ayyub | ) www.reuters.com   time to read: +3 min
WASHINGTON, March 12 (Reuters) - U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank (SIVB.O) and protect depositors, but a major bailout was not being considered. Yellen told the CBS News "Face the Nation" show that she had been working with regulators to "design appropriate policies to address the situation," the largest bank collapse since the 2008 financial crisis, but declined to give further details. "But we are concerned about depositors and are focused on trying to meet their needs," Yellen said. California banking regulators on Friday closed SVB, appointing the Federal Deposit Insurance Corporation (FDIC) as receiver to protect depositors at the startup-focused lender. The collapse of the startup-focused bank has raised concerns about runs on regional banks, and the ability of small businesses that banked with SVB to pay their employees.
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