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Global banking system is stable amid crisis, US treasury secretary says – BBC News
US treasury secretary Janet Yellen offered reassurance that the banking system is stable in a speech to bankers in Washington.
Yellen said the US government is prepared to help more banks if needed, saying their recent actions have demonstrated their “commitment to ensuring the banking system remains safe”.
Fears were initially sparked when Swiss bank Credit Suisse was bought by rival UBS on Sunday.
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The US said it has hit “dozens” of Iranian military targets in overnight attacks, in response to Iran hitting commercial ships in the Strait of Hormuz.
The military said it struck “air-defense systems, coastal radar sites, missile and drone capabilities, and small boats”, using aircraft, ships, and drones – including “one-way attack sea drones for the first time”.
“The Strait of Hormuz is a vital maritime corridor for global trade,” the US military said. “Iran does not control it”.
In response, Iran said it targeted US bases in Jordan, Bahrain, and Kuwait and also radar systems in Oman.
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President Donald Trump has said the US is reinstating a naval blockade of Iranian ports and will impose a 20% charge on all cargo shipped through the Strait of Hormuz following days of escalating strikes between the two countries.
He said this would stop “Iran’s ships or customers” from entering or leaving the key oil shipping route, but “all other countries will have fair and open use of the Strait”.
Iran’s foreign minister later said whoever provides safe passage “should be compensated for this service”, but Iran would remain the strait’s “GUARDIAN” – using Trump’s word.
Tehran and Washington clashed over the strait’s control after exchanging strikes in the region overnight and on Monday.
The US said it carried out strikes against military targets in Iran, targeting air defence systems, coastal radars, and missile and drone sites. Iran said it responded by striking US military bases in Kuwait, Jordan and Bahrain, and radars in Oman.
Reeta Chakrabari presents BBC News at Ten reporting by Jeremy Bowen.
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Wildfires of ‘exceptional scale’ have taken force in Paris, as neighbouring Spain still tackles flames across the country following its own devastating fires.
Now the UK is also experiencing wildfires in England and Wales, as its third heatwave of the year is set to intensify again this week.
Here’s what we know so far about the extent of wildfires in Europe and the UK, and how heatwaves are impacting them.
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Explosions have been heard near two Iranian port cities, Bandar Abbas and Bushehr, state media has reported.
It comes after another night of strikes between the US and Iran, with Iran’s Islamic Revolutionary Guard Corps saying it hit two UAE tankers in the Strait of Hormuz and targeted US facilities in Jordan and Bahrain.
The UAE called the attack “brazen”, adding that an Indian crew member was killed and eight others were injured.
Meanwhile, the US military says it completed strikes on targets aimed at degrading “Iran’s ability to attack commercial shipping” – Iranian state media reports three people were killed.
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The US military said it was carrying out a new wave of strikes on targets in Iran. It said the aim of the attacks was to degrade Iran’s ability to attack shipping in the strait of Hormuz. It came ass the US Navy resumed its blockade of Iran’s ports.
Iran said that control of the strait of Hormuz was required for its national security and it will exercise sovereignty over the key shipping lane, whatever the cost.
President Trump announced that he was scrapping a plan he had announced a day earlier, for placing a 20% toll or tariff on all cargos passing through the strait of Hormuz.
Clive Myrie presents BBC News at Ten reporting by Sarah Smith in Washington.
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@amitnandlaskar4468
January 10, 2024 at 2:55 pm
I am raising an Alarm for the common people of America. Don't take further loan. I pray to make you understand. If your country take further loan than you are going to never ever cot out of the debth . If you don't listen to this Alarm. The country will definitely end up in a civil war. This is the law of Karma.
@marvinfok65
January 10, 2024 at 2:55 pm
Yellen is sitting on a red hot stove while she said that the banking system is stable! It is the same as Stormy Daniels saying that she is a virgin!
@somboonpolsuk-qr6lq
January 10, 2024 at 2:55 pm
ขอขอบคุณครับ
@somboonpolsuk-qr6lq
January 10, 2024 at 2:55 pm
สอนนะครับแบบยอดนิยม….
@dany-pv9cs
January 10, 2024 at 2:55 pm
אתם נוצרים טובים
@Chris-fm1rk
January 10, 2024 at 2:55 pm
Means the opposite then.
@SonyaBeverley
January 10, 2024 at 2:55 pm
There is no more federal reserve… the banks are over!! Big changes a foot… get your money in gold asap.
@ivermektin6874
January 10, 2024 at 2:55 pm
They said this in 2008
@sethandruby
January 10, 2024 at 2:55 pm
Brussels Broadcasting Company (BBC) ?
1995 population 57.9 million people
2022 population 67.9 million people
Liberal & labour open door political system has created ?
A housing crisis, 6000 properties rented for illegal immigrants?
BBC promote that white English responsible for all atrocities in world
NHS meltdown ( new policy colour comes first?)
NHS managers not doctor’s & nurses, art works not buildings?
BBC spin every boat full of doctors & nurses ? LOL
10 million more using gp’s & dentist’s
Labour and unions trying to bring government down with general strike?
Crime crisis (rape, thief, grooming gangs not investigated )
Police only protect MP’s and have arrested 3300 for free speech?
Grooming gangs ( supposedly it’s a hate crime to criticise ? )
Power shortage ( when cold this winter thank a green ?)
Net zero is a joke, price 1 to 3 trillion pounds depending upon how fast the rollout?, 300,000 new engineer’s required ?
Nhs waiting lists, 10 million reason’s no beds ?
40 thousand pounds per illegal immigrant average spend ?( estimated cost 2 billion a year ? , that’s a large hospital a year ?)
High house prices, 10 million reason’s there are no houses ?
Terror attacks on streets but no police?
Conservitive party sign us back into EU 2.0 but no referendum ?
Five million on benefits but somehow we need immigrants?
Free speech outlawed, even thinking is now a arrest able offence?
@auro1986
January 10, 2024 at 2:55 pm
janet says bbc came and now economy lame
@dorothysandraking6458
January 10, 2024 at 2:55 pm
Disturbing on many levels, but for me what hit home was tech, a field which I have worked in for about 16 years and have just – happily – left. What really was tragic about tech was its financialization. So many companies more concerned with either an IPO or an inflation of their stock price than they were with creating value and solving problems. It led to all kinds of toxicity on the small scale, and lots of wasted money and talent on the large scale. But now I have come to understand that the reason tech has become like this is that it's a place to park cheap money.
@hadensmith3323
January 10, 2024 at 2:55 pm
Hey everyone, I've been keeping an eye on some stocks lately and wanted to hear your thoughts on the Best informed trading analyst. lets get a conversation going and share our perspectives
@schoolofhardknocks4501
January 10, 2024 at 2:55 pm
If Yellen or the BBC say that the banking system is fine, then that means you better get ready for a collapse. What any of these pair know about banking can be written on a postage stamp
@JohnSmith-fz1wh
January 10, 2024 at 2:55 pm
"Safe and effective" ROFL
@davidgray8321
January 10, 2024 at 2:55 pm
Strong and stable. Am'I riiittte?
@gazzz-yz7xc
January 10, 2024 at 2:55 pm
if they say it’s stable it’s not all bull in my eyes.
@williamshaw5388
January 10, 2024 at 2:55 pm
The WESTERN banking system.
Why does the corrupt west keep referring to itself as the “world”? It’s not.
@wolfpackzeroin2746
January 10, 2024 at 2:55 pm
The only thing it proves is that the United States is falling apart all they're going to do is print money and give it to the bank's inflation will go even higher you jackasses why don't you talk about that. United States has broke doesn't anybody know . Is this going to be another bailout. Who's paying for this
@itshardmakinganamefo
January 10, 2024 at 2:55 pm
It's not like Yellen has any incentive to say that everything is fine.
@detectiveofmoneypolitics
January 10, 2024 at 2:55 pm
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank