US Treasury Secretary Yellen Addresses Banking and China in Recent Statements

US Treasury Secretary Janet Yellen stated that the US banking system could potentially allow for Chinese Communist Party-linked Silicon Valley Bank depositors to be "made whole." Yellen emphasized that the American banking system is "sound" despite SVB's collapse, which was the worst US financial institution failure since 2008. The California-based bank failed after anxious depositors withdrew large amounts following its shares sinking 60% two days in a row.