CCP-linked Silicon Valley Bank depositors could be 'made whole' by US: Yellen
CCP-linked Silicon Valley Bank depositors could be ‘made whole’ by US: Yellen
Treasury Secretary Janet Yellen said that under the current agreement, Chinese Communist Party-linked (CCP) Silicon Valley Bank depositors could be “made whole” by the U.S. banking system.
Treasury Secretary Janet Yellen disclosed on Thursday that the U.S. banking system could potentially allow for Chinese Communist Party-linked (CCP) Silicon Valley Bank depositors to be "made whole."
Sen. James Lanklord, R-Okla., asked Yellen about the reported CCP-linked depositors during a Senate Finance Committee hearing.
"It has been reported publicly that SVB had a large number of Chinese investors that are there, including some companies that were directly connected to the Chinese Communist Party," Lankford began.
"So what I’m asking is: will my banks in Oklahoma pay a special assessment to be able to make Chinese investors whole in Silicon Valley Bank?" the Republican senator asked.
SILICON VALLEY BANK RECKLESS WITH RISK, ESG PUSH: STATE FINANCIAL OFFICERS