Watch Treasury Secretary Janet Yellen speak live to banking conference

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Treasury Secretary Janet Yellen was scheduled to talk Tuesday greeting to the American Bankers Association league successful Washington, D.C.

In prepared remarks, Yellen said authorities are prepared to widen unlimited deposit insurance to different banks if necessary. Regulators recently backstopped deposits to failed institutions Silicon Valley and Signature Bank beyond the mean $250,000 FDIC limit.

"Our involution was indispensable to support the broader U.S. banking system," Yellen said. "And akin actions could beryllium warranted if smaller institutions endure deposit runs that airs the hazard of contagion."

Bank stocks surged connected her remarks, propelling a broader rally connected Wall Street.

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