Investing
Yellen says pressures remain on some U.S. regional bank stocks but system sound
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/LYNXMPEA7H0NX_L.jpg)
© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks during a news conference at the Treasury Department in Washington, U.S., April 11, 2023. REUTERS/Elizabeth Frantz/File Photo
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Monday that some regional bank stock prices remained under pressure, but deposits had stabilized and regulators stood ready to use the same tools used in recent bank rescues if more contagion fears arose.
Yellen told CNBC in a live interview that some of the selling of bank shares was due to earnings strain, but added that the “bar is pretty high” for imposing any controls on short selling of bank stocks.
“We’re not seeing substantial deposit runoff,” Yellen said. “So there are some pressures on stock prices but our banking system is well capitalized, it has access to liquidity and regulators stand ready to use the same tools we have in the past if there are further pressures that arise that could create contagion.”
Asked if she would support a temporary ban on short-selling of bank stocks to take some pressure off of regional banks, she said that was a matter for the Securities and Exchange Commission (SEC) to decide, and the last use of such controls in 2008 may have made things worse.
“If it were being found that there’s market manipulation, that’s something the SEC certainly could take action against. But short selling more broadly, the bar is pretty high to put controls on,” Yellen said.
Read the full article here
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/pf-logo.png)
-
Investing6 days ago
Mark Zuckerberg Reveals the Future Meta AI, Tech Industry
-
Investing5 days ago
Floor & Decor Holdings stock slides after Spruce Point short report By Investing.com
-
Personal Finance4 days ago
Today's mortgage rates rise for 15- and 30-year terms | July 2, 2024
-
Passive Income4 days ago
What’s Former ‘Jeopardy!’ Host Mayim Bialik Up to Now?
-
Side Hustles6 days ago
A Buddy’s Franchise is Built for Success in a Recession Resistant Industry
-
Passive Income6 days ago
Warren Buffett Changes His Will, Gates Foundation Donations
-
Side Hustles4 days ago
Improve Your Vocabulary in Just 10 Minutes a Day With This App, Now $9.99
-
Investing5 days ago
Don’t Miss Your Chance to Get PDF Expert for $80