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https://www.wsj.com/articles/yellen-says-more-bank-mergers-likely-this-year-96f69e73

Janet Yellen Sees Bank Earnings Pressure, Mergers After March Crisis

Treasury secretary says she doesn’t see ‘huge threat,’ but comments show regulators bracing for turbulence

By

Andrew Duehren

Updated June 23, 2023 1:27 pm ET

The Federal Deposit Insurance Corporation is doing what it was designed to do when banks like Silicon Valley and Signature Banks go under: cover insured deposits. Here’s how the FDIC works and why it was created. Photo illustration: Madeline Marshall

PARIS—Treasury Secretary Janet Yellen said more banks would probably seek to merge this year as higher interest rates and recent banking turmoil are making it more expensive for them to hang on to depositors.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.