U.S. Treasury Secretary Janet Yellen will chair a closed meeting of the Financial Stability Oversight Council on Friday morning, according to daily media advisory for the department.
The Treasury statement provided no further details about the subject of the FSOC meeting, which comes two weeks after regulators closed Silicon Valley BankThe body of financial regulators, led by the Treasury and including the heads of the Federal Reserve, the Federal Deposit Insurance Corp , the Securities and Exchange Commission and other regulatory agencies, meets regularly to discuss the state of U.S. financial stability risks and oversight initiatives.
Yellen again sought to calm fears of further bank deposit runs on Thursday, telling U.S. lawmakers that she was prepared toin the Silicon Valley and Signature Bank failures to safeguard uninsured bank deposits if failures threatened more deposit runs.
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