This is CBS Eye on the World.

Here's John Batchler.

Janet Yellen, Secretary of the Treasury, former chair of the Federal Reserve, remarks

to a bank association in Washington in these last hours significant in responding to the

crisis atmosphere, the panic atmosphere, the alarm atmosphere of these last days about

banks and is your money safe.

The headline in the journal, Yellen says US could move to protect deposits at other banks,

subhead.

Treasury Secretary's statement is clear as sign yet that regulators could intervene again

if needed, intervene how and to what end.

I welcome Joseph Sternberg, member of the editorial board of the Wall Street Journal.

He's in London, so he can bridge the two worlds of banking alarms on the continent of Europe

and here on the continent of North America.

He writes the political economics column for the Wall Street Journal editorial page.

Joe, a very good evening to you.

Janet Yellen, in remarks, talked about protecting depositors at additional banks if regulators

see a risk of a run on the banking system.

I presume what this means is the bank act of 1933, the creation of the FDIC to support

deposits to a certain cap, has been raised over the decades, is now at a 250,000.

What happened in SVB was the federal government through the office of the Treasury and the White

House.

Remove that cap for SVB, I believe.

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