Baku 23° C
Janet Yellen: SVB suffered bank run that led to liquidity problem
Other countries
- 16 March, 2023
- 16:27
Add Report.az to preferred Google sources
Stay up to date with the top news!
US Treasury Secretary Janet Yellen said on Thursday that Silicon Valley Bank had to be closed because of a liquidity risk that meant the bank could not meet depositors’ withdrawal requests, Report informs via Reuters.
“There was a liquidity risk in this situation,” Yellen told the Senate Finance Committee. “There will be a careful look at what happened in the bank and what initiated this problem, but clearly, the downfall of the bank, the reason it had to be closed was that it couldn’t meet depositors’ withdrawal requests.”
Author
Latest News
15:19
Photo
Central banks of Azerbaijan and Uzbekistan discuss prospects for further cooperation
Finance
15:14
Photo
President Ilham Aliyev holds expanded meeting with President of Laos - UPDATED
Foreign policy
15:13
EC approves Italy's 8B euro defense plan under SAFE program
Other countries
15:09
GDP of Azerbaijan's Nakhchivan up 3.5% in Jan-Sept 2026
Finance
15:08
Azerbaijan U-23 minifootball team draws 3-3 with Romania in World Cup opener
Football
14:57
Scientists call for international body to oversee advanced AI
Other countries
14:48
Azerbaijan to assess credit risk based on bank card transactions
Finance
14:42
Photo
President of Laos visits Alley of Honors in Baku
Foreign policy
14:31
Azerbaijan, Czechia discuss promoting Middle Corridor
Infrastructure