A Joint statement from the two.
Text:
- Joint Statement by the Department of the Treasury and Federal Reserve WASHINGTON, DC
- The following statement was released by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell:
- "We welcome the announcements by the Swiss authorities today to support financial stability. The capital and liquidity positions of the U.S. banking system are strong, and the U.S. financial system is resilient. We have been in close contact with our international counterparts to support their implementation."
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Follows the news that UBS have agreed to buy Credit Suisse
- government-brokered deal aimed at containing a crisis of confidence
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USD a bit weaker in early trade with 'risk' flows benefitting from the weekend news.
