Yellen Says Treasury Is Monitoring ‘a Few’ Banks Amid SVB Fallout
- Yellen speaks in House Ways and Means Committee hearing
- It’s ‘a matter of concern’ when banks have financial losses
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US Treasury Secretary Janet Yellen said she is monitoring a few banks “very carefully” and that it’s a “matter of concern” that banks such as SVB Financial are experiencing financial losses.
“You mentioned Silicon Valley Bank — there are recent developments that concern a few banks that I’m monitoring very carefully,” Yellen said Friday after Arizona Republican David Schweikert asked her if she was concerned about bond-market stresses originating from the SVB issues.