Yellen says most U.S. banks would be able to pay off uninsured depositors
2023.05.12 04:32
© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen discusses “U.S.-China Economic Relationship” during a forum hosted by the Johns Hopkins University at the Nitze Building in Washington, U.S., April 20, 2023. REUTERS/Sarah Silbiger
NIIGATA, Japan (Reuters) – Most U.S. banks, including those whose share prices are under pressure, would be able to pay off uninsured depositors, if they began to flee, U.S. Treasury Secretary Janet Yellen said Friday, adding that the Treasury was monitoring the situation carefully.
Yellen told Bloomberg TV that the three regional banks that failed in recent months had tended to have substantial losses, and a very high proportion of uninsured deposits, but the overall banking system was well-capitalized and still had “very solid earnings.”
