US Regulators: Banking System ’Sound and Resilient’

The multi-regulator U.S. Financial Stability Oversight Council (FSOC) agreed Friday that the U.S. banking system remains "sound and resilient" despite stress on some institutions, the U.S. Treasury said in its latest statement to calm jittery markets and bank depositors. In a readout of a closed meeting chaired by Treasury Secretary Janet Yellen, the department said that FSOC participants heard a presentation on market developments from the staff of the Federal Reserve Bank of New York. "The Council discussed current conditions in the banking sector and noted that while some institutions have come under stress, the U.S. banking system remains sound and resilient," the
webdesk@voanews.com (Reuters)
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