NEW HAVEN, Conn., April 3 (Reuters) - U.S. Treasury
Secretary Janet Yellen on Monday said deposit outflows from
small and medium-sized banks were diminishing but she was
watching the situation closely and is "not willing to allow
contagious runs to develop" in the U.S. banking system.
Yellen told reporters after an event at Yale University that
confidence in the banking system was strengthened by actions
taken by the Treasury, Federal Reserve and Federal Deposit
Insurance Corp after the failures of Silicon Valley Bank and
Signature Bank.
"My read is that outflows from smaller and medium-sized
banks are diminishing, and matters are stabilizing, but it's a
situation we're watching very closely," Yellen said.
(Reporting by David Lawder; Editing by Mark Porter)
david.lawder.thomsonreuters.com@reuters.net))
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