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 and protect depositors, but said a major bailout was not being considered.
U.S. Treasury Secretary Janet Yellen testifies before a U.S. House Ways and Means Committee hearing on President Joe Biden's fiscal year 2024 Budget Request on Capitol Hill in Washington, U.S., March 10, 2023. REUTERS/Evelyn Hockstein
WASHINGTON, March 12 - 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"Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out...and the reforms that have been put in place means we are not going to do that again," Yellen told the CBS News Sunday Morning show.Reporting by Sarah N.
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