Yellen: working to address SVB collapse, but not looking at bailout

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a major bailout was not being considered.

“Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out…and the reforms that have been put in place means we are not going to do that again,” Yellen told the CBS News Sunday Morning show.

“But we are concerned about depositors and are focused on trying to meet their needs,” Yellen said.