Yellen expressed confidence in regulators after meeting on SVB

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 (Reuters) – U.S. Treasury Secretary Janet Yellen met with officials from the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency on Friday to discuss Silicon Valley Bank developments, according to a statement from Treasury. Yellen expressed “full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event.”


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