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[ad_1] Once that date hits, “really that’s it,” Yellen said on “This Week.” “We have been using extraordinary measures for several months now, and our ability to do that is running out.” The debate over the debt limit has left Democrats and Republicans in a deadlock, and so far neither side seems ready to budge….
[ad_1] The banking turmoil is just one of several big priorities that Treasury outlined in Secretary Janet Yellen’s agenda for the IMF-World Bank spring meetings, which begin Monday. | Andrew Harnik/AP Photo Treasury Secretary Janet Yellen plans to tell financial regulators gathered in Washington this week that the U.S. banking system is on solid ground…
[ad_1] UBS said in a statement that it would pay the equivalent of $3.25 billion to buy Credit Suisse, in what will be a merger of two institutions considered important to the global financial system. “With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the…
[ad_1] The Biden administration’s Sunday rescue plan for the Northern California bank’s customers, along with those of Signature — a New York institution that was shuttered that day — were essential for stemming a possible contagion that put “community banks across the country at great risk of runs,” Yellen said. In her prepared testimony, the…
[ad_1] Washington: US Treasury Secretary Janet Yellen on Sunday said that the federal government will not provide a bailout for Silicon Valley Bank’s investors after the bank was abruptly shuttered, but said financial regulators are “concerned” about the impact to depositors and working to address their needs, media reports said. “During the financial crisis, there…
[ad_1] The bank had $209 billion in assets, and many of its depositors were Silicon Valley-backed startups and health-care businesses — many of them small businesses, Yellen said. Some have payrolls to meet this week. But although the collapse is concerning, Yellen emphasized that the American banking system is “safe and well-capitalized” and “resilient.” Americans…
[ad_1] “As you have said, our support is not ‘charity,’” Yellen told Zelenskyy. “It’s an ‘investment in global security and democracy.’” Yellen’s trip comes a week after President Joe Biden made his own surprise visit to Kyiv, a show of support that marked the one-year anniversary of Russia’s unprovoked invasion of Ukraine. On Friday, the…