“I simply want to say that we’re very aware of the problems that depositors will have,” Yellen said. “Many of them are small businesses that employ people across the country and of course this is a significant concern and working with regulators to try to address these concerns.”
Asked whether the FDIC might be open to a “foreign bank” coming in as a buyer, Yellen said, “I’m sure they’re considering a wide range of available options that include acquisitions.” The White House repeated its assurances on the US banking system, with Office of Management and Budget Shalanda Young citing regulatory changes put in place after the financial crisis more than a decade ago.
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