Don't worry. The US Treasury is seeking to reassure the situation of the banking sector after the bankruptcy of Silicon Valley Bank (SVB) and Signature Bank. "The situation is stabilizing. And the U.S. banking system remains strong," U.S. Treasury Secretary Janet Yellen told an audience of bankers on Tuesday, according to excerpts from her speech at the annual conference of the Organization of American Bankers (ABA) in Washington.

The device put in place by the US central bank (Fed) to lend money to banks for a week, to avoid them the debacle, so that those already existing, "work as planned to provide liquidity to the banking system" and "withdrawals of money from regional banks have stabilized," said Joe Biden's Minister of Economy and Finance.

"Necessary" intervention

Waves of massive withdrawals caused less than two weeks ago the liquidation of the establishment Silvergate Bank, a small regional bank that has become the favorite destination of the world of cryptocurrencies, then SVB, which the Deposit Insurance Agency (FIDC) has taken control. And Signature Bank, the country's 21st bank, had been shut down. The US authorities immediately announced a series of measures to reassure individuals and businesses about the soundness of the US banking system, promising in particular that SVB and Signature Bank customers will be able to withdraw all their deposits.

"Our intervention was necessary to protect the entire U.S. banking system. And similar actions could be justified if small institutions suffer from scrambles for withdrawals that pose a risk of contagion, "should still indicate the minister. The First Republic bank is particularly in the hot seat.


The Fed said Thursday that it had lent nearly $ 12 billion to US banks in a few days, as part of the device put in place on March 12, intended to allow them to honor the requests for withdrawals of their customers. It had also, through its usual program of very short-term loans, lent $ 152 billion to banks in the past week against barely $ 5 billion the previous week, and $ 142.8 billion to the two entities created by US regulators to succeed SVB and Signature Bank.

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