: U.S. bank sector ‘remains sound and resilient,’ council of top regulators says after Friday meeting


The Financial Stability Oversight Council said that “while some institutions have come under stress, the U.S. banking system remains sound and resilient,” in a Friday statement.

Treasury Secretary Janet Yellen convened the meeting of the nation’s top financial regulators to discuss recent stresses in the U.S. banking system following the failure of Silicon Valley Bank and Signature Bank earlier this month.

The council heard a presentation from New York Fed staff on “market developments” and also “discussed ongoing efforts at member agencies to monitor financial developments.”

Regional bank stocks KRE, +3.03% recovered during Friday trade, though financial sector equities XLF, -0.06% lagged the broader S&P 500 index SPX, +0.56%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarketWatch First Take: Chip legend Gordon Moore leaves behind a Silicon Valley looking for its next big thing
Next article: Intel co-founder and digital-era pioneer Gordon Moore dies at 94


Please enter your comment!
Please enter your name here