Yellen: SVB decline ‘obviously troubling’
- The US banking system is safe and well capitalized
- I spent all weekend working with the regulators to develop the appropriate policy
- I can’t give details right now. li>
- You want to make sure that one bank’s problems don’t spread to others
- Repetition of previous bank assistance is not considered
Asked whether a deal could be expected before markets open on Monday, he said he was working to fix the situation “in time.” Given this and his lack of panic in other remarks, the outcome seems already set – it’s just a matter of timing things.
This article was written by Justin Lowe at www.forexlive.com.
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