McCarthy. Archive image. Alex Brandon / AP
The banking turmoil in the US
McCarthy: Fed and White House have tools for the crisis - statement may come today
The White House and the Federal Reserve hope to issue a statement as early as Sunday on the situation surrounding the collapsed Silicon Valley Bank. This is what House of Representatives Speaker Kevin McCarthy told Fox News after speaking with the Biden administration and the central bank.
- They have the tools to deal with the current situation, they realize the seriousness and they are working to try to come up with some announcement before the markets open, he tells the television channel.
The best option to move forward and calm the markets would be if "someone bought this bank," McCarthy adds.
The banking turmoil in the US
Rescue packages are excluded - but want to avoid "contagion"
US Treasury Secretary Janet Yellen stated on Sunday that she is working closely with the country's supervisory authorities to ensure that the collapse of Silicon Valley Bank does not "contagion" the rest of the banking sector. She says so in an interview with CBS News.
On the other hand, the USA will not, as during the financial crisis, deploy a major rescue operation to come to the rescue of bank owners and SVB.
- The reforms that have been introduced mean that we will not do it again [...] But we are concerned about the customers and try to meet their needs, says Yelle
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