WASHINGTON, March 16 (Reuters) – The U.S. banking system “remains strong” and Americans should have no worries about the availability of their deposits when needed, U.S. Treasury Secretary Janet Yellen said on Thursday. the Senate Finance Committee.
In a statement prepared for a hearing on the budget, Janet Yellen recalled that “firm and forceful” measures were taken this week by the American administration to strengthen citizens’ confidence in the country’s banking system after the collapse of SVB Financial Group, which operates as Silicon Valley Bank (SVB).
“I can assure commission members that our banking system remains strong and that Americans can be confident that their deposits will be there when they need them,” she said.
“The actions taken this week demonstrate our strong commitment to ensuring the security of depositors’ savings,” she added.
She made no mention of the situation of Credit Suisse, which on Wednesday caused a new bout of fever in the financial markets with the refusal of its main shareholder to return to the pot, before the Swiss Central Bank (SNB) stole Thursday to the aid of the Swiss bank.
The Treasury, the Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC), the federal deposit insurance authority, announced a series of emergency measures on Sunday after the bankruptcies of SVB, California, and Signature Bank, in New York, in order to circumscribe the shock wave caused by these two regional banks.
“Shareholders and bondholders (of these banks) will not be protected by the (US) administration,” said Janet Yellen. (Report Andrea Shalal; French version Claude Chendjou, edited by Blandine Hénault)
