US Treasury Secretary says ‘no bailout’ for Silicon Valley Bank following collapse

US Treasury Secretary Janet Yellen has spoken to Face The Nation and says there’ll be “no bailout” of Silicon Valley Bank after its collapse, according to CommSec’s Craig James.

“They’re focused on protecting the depositors and insured deposits of up to $250,000 likely to be paid later today,” he told Sky News Australia.

“It is a big week, and we’ll be watching the news flow coming out from the Federal Reserve, the regulators … and also the Treasury Secretary again, Janet Yellen.”

Presented by CommSec.