US Treasury considers 100% backstop of bank deposits
Emergency powers at the US Treasury allow Treasury Secretary Janet Yellen to backstop all US bank deposits.
Cryptocurrency news by Protos · Protos
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Show Notes
The US government is concerned about the unlikely yet destabilizing possibility of nationwide bank runs. The Federal Reserve and Treasury already bailed out two banks last week, including the second-largest bank failure in the country’s history: Silicon Valley Bank. Now, the US Treasury is considering a backstop of all bank deposits nationwide.
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