Yellen, Treasury not considering ‘blanket insurance’ for all U.S. bank deposits

In testimony before the Senate appropriations subcommittee, Treasury Secretary Janet Yellen informed lawmakers the Treasury Department had not considered or discussed “blanket insurance” for all U.S. banking deposits without approval by Congress. This statement came less than two weeks after federal regulators authorized insuring all deposits from Silicon Valley Bank, including those beyond the $250,000 insurance limit. Read on for more details.