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Yellen defends government intervention to avoid another SVB


Nearly two weeks after three United States banks collapsed — Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank (NASDAQ:SBNY) — U.S. Treasury Secretary Janet Yellen said the federal government is ready to take action if needed.

According to a Bloomberg report of excerpts from a speech Yellen will give on Tuesday at the American Bankers Association in Washington D.C., the Treasury Secretary said:

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