/ world today news/ On March 16, US Treasury Secretary Janet Yellen, during a hearing before the Senate Finance Committee, said that the closure of Silicon Valley Bank and Signature Bank had caused serious shocks to the market. To prevent the crisis from spreading further, US regulators have taken measures to provide emergency support to the two banks to ensure the safety of citizens’ deposits.
Yellen also added that the regulators’ emergency measures for the two banks do not mean that this should be considered standard policy and that the US government will not provide guarantees for all bank deposits. She warned that if the crisis spreads further, it is likely to trigger a bank panic and mass withdrawals from financial institutions.
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