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  • U.S., China to hold more financial shock exercises, Yellen says

    04/10/2024 1:06:47 PM PDT · by RomanSoldier19 · 26 replies
    reu ^ | 4/10/24 | Reuters
    The U.S. and China are deepening co-operation on financial stability issues, Treasury Secretary Janet Yellen said on Monday, with more simulations of financial shocks due after a recent exercise on tackling the failure of a large bank. Wrapping up four days of meetings in China, Yellen issued a stern warning to Chinese banks that facilitating transactions providing material support or dual-use goods to Russia for its Ukraine war effort would lead to "significant consequences."