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US not considering 'blanket' bank deposit insurance: Treasury Secy Yellen

Yellen has earlier said that the US is prepared to take further actions to protect depositors if smaller lenders are threatened

Janet Yellen, Yellen, Treasury Secy
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Bloomberg
Treasury Secretary Janet Yellen said regulators aren’t looking to provide “blanket” deposit insurance to stabilize the US banking system, and that the heads of recently failed American lender should be held accountable.
 
“I have not considered or discussed anything having to do with blanket insurance or guarantees of deposits,” Yellen said Wednesday during a hearing before a Senate subcommittee.

Yellen has earlier said that the US is prepared to take further actions to protect depositors if smaller lenders are threatened. Her staff is studying ways to temporarily raise the federal insurance cap above $250,000 without Congressional approval in the event

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First Published: Mar 23 2023 | 8:28 AM IST

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