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Treasury Secretary Janet Yellen met with banking regulators on Friday on the collapse of SVB Financial Group as she and the White House expressed confidence in their abilities to respond to the largest bank failure since the 2008 financial crisis.
Yellen met with officials from the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency on Friday to discuss developments with SVB, which does business as Silicon Valley Bank, Treasury said in a statement.
“Secretary Yellen expressed full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event,” it said.
