Yellen Says US Banking System Is Sound Amid SVB Crisis

The transcript discusses a bank run at Valley Bank, driven by uncertainty about asset values and a high share of uninsured deposits. The federal government intervened to restore confidence, protect depositors, and mitigate systemic risks, without aiding specific banks or investors. A new Fed lending facility was established to provide liquidity. The US banking system remains sound, despite recent pressures, and current developments differ from the global financial crisis.

What was the primary reason for the bank run experienced by SVB?

How did the federal government respond to the bank run?

What actions were taken to protect depositors at SVB and Signature Bank?

What was the purpose of the new lending facility established by the Fed?

How does the current state of the US banking system compare to the global financial crisis?