Yellen: SVB collapse 'clearly a concern'

• American banking system is safe and well-capitalised
• Been working all weekend with regulators to design appropriate policy
• Can't provide further details at this time
• Want to make sure troubles at one bank cannot create contagion to others
• Certainly not looking at repeating bank bailouts of past

When asked about if a deal can be expected before Monday markets open, she says that they are working to address the situation "in a timely way". Given that and her lack of consternation in the other remarks, it seems like the outcome might be a given already - all there's left is to figure out the timing of things.

/US Dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term