(ANSA) - NEW YORK, MARCH 21 - The United States is ready to intervene to protect smaller banks with drastic actions such as the recent ones taken by Silicon Valley Bank and Signature Bank, for which all deposits have been insured.
This was stated by Treasury Secretary Janet Yellen, according to excerpts from the speech she will deliver to the American Banker Association.
“Our intervention was necessary to protect the banking system and similar actions could be ensured if smaller banks are subject to a flight of deposits that poses the risk of contagion,” Yellen says.
(HANDLE).