The government is determined to restore public confidence in the banking system and to prevent any more turmoil.
WASHINGTON — Treasury Secretary Janet Yellen is trying to project calm after regional bank failures, saying on Tuesday that the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability.
Yellen, who made her remarks at the American Bankers Association, said that overall “the situation is stabilizing.”
“And the U.S. banking system remains sound,” Yellen said.
Yellen’s remarks come after a series of troubling bank developments this month.
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