Watch: Treasury secretary Janet Yellen addresses bankers summit in Washington

Watch as the US Treasury secretary addresses the American Bankers Association’s annual Washington Summit in DC.

It comes as she expressed confidence in the nation’s banks and is seeking to calm nerves surrounding financial turmoil.

Janet Yellen said in prepared remarks that "our intervention was necessary to protect the broader US banking system."

"The situation is stabilizing. And the U.S. banking system remains sound," she added.

Yellen has also said that she is prepared to take additional actions to safeguard smaller financial institutions.

Federal actions after Silicon Valley Bank and Signature Bank collapsed, she said, were to show that the government is dedicated to protecting the system.

“Similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion,” she said.

The American Bankers Association summit is being held at the Marriott Marquis until Thursday, 23 March.

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