WASHINGTON, Mar 16 The US banking system is stable and depositors' deposits will not be affected, Treasury Secretary Janet Yellen said Thursday at a Senate hearing.
Last week, California regulators closed Silicon Valley Bank (SVB), the largest bank failure in the US since the 2008 financial crisis. The collapse of the SVB turned out to be associated with an increase in the Fed's key rate, which led to the depreciation of assets on the balance sheets of many financial institutions. In addition, on March 8, the closure of the crypto-focused bank Silvergate was announced, and on March 12, a similar New York-based Signature Bank.
According to the head of the Ministry of Finance, this week the government took «decisive and strong measures to stabilize (the situation — ed.) and strengthen public confidence.»
«I can assure committee members that our banking system remains strong and Americans can rest assured that their deposits will be where they need to be when they need them,» the treasury secretary said.< br />