Treasury Secretary Yellen Backs More Bank Bailouts, Beyond $250,000 Cap

  • Treasury Secretary Janet Yellen said Tuesday that the government is willing to take further action to guarantee bank deposits are safe.
  • Regulators said they would guarantee all deposits, going beyond the previous $250,000 level for the two banks. Yellen’s comments indicate that the authorities are prepared to do the same for other institutions that need it.
  • A report Monday from Bloomberg indicated that regulators are studying a way to guarantee all deposits. One idea that has been floated has been to offer a tiered pricing system in which depositors would pay extra to guarantee deposits above $250,000.
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