United States Treasury Secretary Janet Yellen has sought to reassure legislators – and US citizens – that the country’s banking system remains “sound” in the wake of the second largest bank collapse in its history.Yellen on Thursday became the first official from President Joe Biden’s administration to face legislators over the decision to protect uninsured money at two failed regional banks, part of a series of actions Washington has maintained does not constitute a bailout.“I can reassure the members of the committee that our banking system is sound and that Americans can feel confident that their deposits will be there when they need them,” Yellen said during a Finance Committee hearing in the Senate.
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