U.S. Treasury Secretary Janet Yellen has ruled out a government bailout of Silicon Valley Bank (SVB). financialcrisis
U.S. Treasury Secretary Janet Yellen has ruled out a government bailout of the collapsed Silicon Valley Bank , which was shut down by regulators on Friday. Yellen explained that the reforms put in place after the 2008 financial crisis were aimed at preventing the need for government bailouts.U.S. Treasury Secretary Janet Yellen stated in an interview on CBS News, aired Sunday, that the government is not considering a bailout for the collapsed Silicon Valley Bank .
I’ve been working all weekend with our banking regulators to design appropriate policies to address this situation. Responding to a question about whether she has “ruled out” a government bailout of Silicon Valley Bank, the treasury secretary detailed: While noting that she cannot provide further details on the SVB situation at this time, Yellen insisted: “The American banking system is really safe and well-capitalized. It’s resilient.”
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