'No doubt' that more banks will fail after Silicon Valley Bank's implosion, says the FDIC chair who oversaw part of the 1980s banking crisis
Meanwhile, that the"American banking system is really safe and well-capitalized, it's resilient."
"In the aftermath of the 2008 financial crisis, new controls were put in place, better capital and liquidity supervision, and was tested during the early days of the pandemic," Yellen said.The FDIC did not immediately respond to Insider's request for comment. Secura/Isaac Group, Isaac's advisory firm, also did not immediately respond to Insider's request for comment sent outside regular business hours.
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