US Financial Regulators Hold Secret Meeting

US Treasury Secretary Janet Yellen is holding an unscheduled meeting of the Financial Stability Oversight Council (FSOC) with top US financial regulators in an effort to instill calm in financial markets and among bank depositors after the recent failure of two mid-sized lenders in the US and the near-collapse of banking giant Credit Suisse. The closed-door meeting will discuss offering greater clarity about their readiness to guarantee uninsured bank deposits, and it is unclear if the council will issue a statement following the meeting.

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