Banking System Is ‘Sound’ And Government Will Back Deposits

  • “As everyone in this room knows, the American economy relies on a healthy banking system that can provide for the credit needs of families and businesses,” Yellen said.
  • “Let me be clear: the government’s recent actions have demonstrated our resolute commitment to take the necessary steps to ensure that depositors’ savings and the banking system remain safe.”
  • Silicon Valley Bank provided services to half of venture-backed technology and health care firms in the United States.