No Bailout For Collapsed Silicon Valley Bank, Yellen Says

Treasury Secretary Janet Yellen said Sunday that there would be no bailout for the collapsed Silicon Valley Bank.

Appearing on CBS News’s “Face The Nation” with host Margaret Brennan, Yellen said the government would assist regulators in helping protect depositors but made clear that there would be no federal bailout for the major tech bank.

“Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out,” Yellen told Brennan when asked whether the U.S. had ruled out a bailout. “And the reforms that have been put in place means that we’re not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs.”