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US Treasury official says banks not being bailed out, depositors are being protected

US Treasury official says banks not being bailed out, depositors are being protected

A senior US Treasury official:

  • The firms are not being bailed out, the depositors are being protected
  • SVB equity and bondholders will be wiped out

More:

  • Steps on SVB were taken to stablilize the financial system and protect depositors
  • Yellen made decision on SVB after receiving recommendation from Fed, FDIC, and after consulting Biden
  • Yellen, other officials continuing to monitor situation closely, as well as health of broader banki... Read More
Posted: Mar 12 2023, 23:00
Author Name: forexlive
Views: 0821100

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