Treasury and Banking Agencies Stand Firmly Behind Banking System

The Treasury Department, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Office of Thrift Supervision and Federal Reserve Board have issued a joint statement in which they noted “A strong, resilient financial system is necessary to facilitate a broad and sustainable economic recovery.” The statement added, “The U.S. government stands firmly behind the banking system during this period of financial strain to ensure it will be able to perform its key function of providing credit to households and businesses. The government will ensure that banks have the capital and liquidity they need to provide the credit  necessary to restore economic growth. Moreover, we reiterate our determination to preserve the viability of systemically important financial institutions so that they are able to meet their commitments.” http://www.ustreas.gov/press/releases/tg38.htm