Janet Yellen, the US treasury secretary, informed Congress that the current collapses of two US banks, Silicon Valley Financial institution and Signature Financial institution, doesn’t replicate on the general power of the US banking system. She informed Congress the US banking system ‘stays sound’, claiming that the federal government’s swift response to the failures helped to revive public confidence within the banking system. ‘I can reassure the members of the committee that our banking system stays sound, and that Individuals can really feel assured that their deposits will likely be there once they want them,’ she stated
