Preventing the Spread of Financial Crisis! U.S. Treasury Secretary Yellen: Government will continue to support deposits, ensuring the safety of bank deposits

According to the speech by the US Treasury Secretary Janet Yellen at the American Bankers Association on the 21st, she mentioned that the government is willing to take further actions to ensure the safety of bank deposits. Yellen also stated that government agencies are prepared to provide deposit support and will take appropriate measures in case of deposit runs on small institutions to prevent the risk of financial crisis spreading. "Our measures are not focused on helping specific banks or types of banks. Our intervention is necessary to protect the broader US banking system," said Yellen.

According to a speech by U.S. Treasury Secretary Janet Yellen at the American Bankers Association on the 21st, she mentioned that the government is willing to take further actions to ensure the safety of bank deposits. Yellen also stated that government agencies are prepared to back up deposits and will take appropriate measures in the event of deposit runs at small institutions to prevent the spread of financial crisis risks. "Our actions are not focused on helping specific banks or bank categories. Our intervention is necessary to protect the broader U.S. banking system," Yellen said.

Following this news, most bank stocks rose.

Will U.S. Treasury Secretary Yellen's deposit support policy affect interest rate decisions? Stay tuned for the discussion: Will the Fed announce a rate decision, a policy shift, or continue raising rates?