Mar 12, 2023
IMF Is Closely Monitoring SVB’s Financial Stability Implications
(Bloomberg) -- The International Monetary Fund said it’s “closely monitoring” developments and potential financial risks from the failure of Silicon Valley Bank.
The IMF has “full confidence that policy makers in the United States are taking appropriate steps to address the situation,” a spokesperson said on Sunday in response to questions. The US is the largest shareholder in the Washington-based global crisis lender, which regularly monitors economic developments in its 190 member countries.
US regulators are racing against the clock to find solutions, and Treasury Secretary Janet Yellen said officials are focusing on protecting depositors as officials seek to avoid a wider bank run.
Read more: US Seeks to Stymie Bank-Run Risk as Yellen Pledges Protections
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