Yellen says US banking system 'remains resilient' in wake of SVB collapse

Treasury Secretary Janet Yellen said on Friday the U.S. banking system "remains resilient" after U.S. regulators seized the assets of Silicon Valley Bank, roiling global financial markets and setting investors on edge.

Yellen met with officials from the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency on Friday to discuss developments surrounding SVB, according to a statement from the Treasury Department. 

"Secretary Yellen expressed full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event," the statement said.