Yellen claims US banking system is 'sound' amid collapses and bailouts

Speaking at Congress, Yellen said the Federal Reserve had been providing additional support to the banking system via a new lending facility, which she said would "help financial institutions meet the needs of all of their depositors". In her statement, she said: "I can reassure the committee that out banking system is sound and that Americans can feel confident that their deposits will be there when they need them. "This week's actions demonstrate our resolute commitment to ensure that our financial system remains strong, and that deposited savings remain safe." Biden: Banking sys...