Yellen says US, China worked on exercise for dealing with large bank failure
- Country:
- China
U.S. Treasury Secretary Janet Yellen said on Friday that the United States and China have worked on an exercise for jointly dealing with a large bank failure in either country. "We've held technical exchanges between our sides, including an exercise on how we would jointly deal with the failure of a large bank in the U.S. or in China," Yellen said in a question and answer session at an American Chamber of Commerce event in the city of Guangzhou.
Yellen made the comment about the joint work between the two sides to model financial risks from a potential bank failure as an example of the recent cooperative work between the two countries.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Treasury
- China
- Yellen
- Guangzhou
- Janet Yellen
- American Chamber of Commerce
- U.S.
ALSO READ
Iran able to 'handle situation' and spare Middle East more tension, China's foreign minister says
FOREX-Dollar firms after hot retail sales, yen languishes; China data awaited
China's Q1 GDP grows 5.3% y/y, well above forecast
GLOBAL MARKETS-Asian shares slide on Fed rate cut rethink; China GDP in focus
INSTANT VIEW 1-China's Q1 GDP grows 5.3% y/y, well above forecast