The government only insures deposits of less than $250,000, but there is precedent for lifting that cap amid turmoil. It could happen again.
Tag: Treasury Department
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Yellen Says U.S. Ready to Protect Smaller Banks if Necessary
In prepared remarks, the Treasury secretary pledged that the Biden administration would take additional steps as needed to support the banking system.
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The Fed’s Balance Sheet Looks Like Silicon Valley Bank’s
The world’s largest central bank isn’t in crisis, but it is losing money at the moment.
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Yellen Says U.S. Banking System ‘Remains Sound’ Amid Market Turmoil
The Treasury secretary also reassured Americans that their savings were safe.
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The Silicon Valley Bank Rescue Isn’t What Glass and Steagall Had in Mind
Having bailed out depositors of a failing institution in full, how will the government refuse others?