The US Department of the Treasury, the Federal Reserve (FED) and the Federal Insurance Agency (FDIC) issued a joint statement to maintain the stability of the country’s economy and keep the banking system alive.
U.S. Department of the Treasury, the Fed, and the FDIC In the joint statement shared recently by the country’s economy And banking system It was announced that important decisions were taken to keep it alive. Accordingly, Treasury Secretary Janet Yellen, Fed Chairman Jerome Powell and FDIC Chairman Martin Gruenberg. joint press releaseJanet Yellen of the decisions taken jointly by the FED and the FDIC approved by expressed.
closed according to the decision Silicon Valley Bank (SVB) And Signature Bank all depositors in Monday, March 13 It was stated that he will have access to the funds on the same day and all the funds will be repaid. This step taken by institutions to solve the problems of the banking system created an atmosphere of confidence in the markets.
It was stated that institutions work in cooperation to pay all the funds in order not to harm all depositors affected by bank bankruptcies. However, any loss related to the SVB decision, will not be borne by taxpayers. underlined. In the statement, this joint decision stability of the US economy The importance for:
Today, we are taking decisive action to protect the US economy by strengthening public confidence in our banking system.
On the other hand, in the statements made by Janet Yellen over the weekend, the current situation is about the same, which has led to bank bailouts to protect the sector. From the financial crisis 15 years ago While it was stated that it was very different, it was stated that they would not go to a rescue plan for the SVB. Yellen also emphasized that she was worried about depositors. However, after the closure of Signature Bank, it was seen that Yellen took a step back from this decision.