FDIC not considering 'blanket insurance' for bank deposits, Yellen says

U.S. Treasury Secretary Janet Yellen said on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing "blanket insurance" for banking deposits following the collapse of two U.S. banks this month.

Speaking to a hearing of the U.S. Senate's Appropriations Subcommittee on Financial Services and General Government, Yellen also said that the failure of a small bank or community bank could trigger runs on larger banks.