Joint Statement by the Department of the Treasury, Federal Reserve, FDIC, and OCC
Press Release | March 16, 2023
Joint Statement by the
Department of the Treasury,Federal Reserve, FDIC, and
OCC
WASHINGTON, DC -- The following statement was released by
Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair
Jerome H. Powell, FDIC Chairman Martin J. Gruenberg, and Acting
Comptroller of the Currency Michael J. Hsu:
Today, 11 banks
announced $30 billion in deposits into First Republic Bank. This show
of support by a group of large banks is most welcome, and demonstrates
the resilience of the banking system.
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