The US government will not be bailing out Silicon Valley Bank, Treasury Secretary Janet Yellen has said in an interiew with CBS news network, AP reported on Sunday.
Emphasising that 'the American banking system is really safe and well capitalised', Yellen assured that there will be 'no domino effect this time' after the bank's collapse.
Yellen however has said that the government was working closely with banking regulators to help depositors at SVB.
SVB's collpase is the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis more than a decade ago.
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