US Treasury Sec: We are closely monitoring the banking sector

US Treasury Secretary Janet Yellen said today, Friday, that most US banks, including those whose shares are declining, will be able to repay uninsured depositors, adding that the Treasury Department is closely monitoring the situation.

According to Reuters, Yellen told Bloomberg TV that the three US banks that collapsed in the past few months were suffering from large losses and a very high percentage of uninsured deposits, but the banking system in general enjoys good capital and is still making “Very strong profits.”