Treasury Secretary reassured the public Friday that the U.S. banking system remains 'resilient' after meeting with banking regulators in the wake of the failure of Silicon Valley Bank. 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.' The head of Treasury called a meeting with the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency following the spectacular failure of the bank, also known as SVB.
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