It appears that the Biden Administration is abandoning their rhetoric that "the banking system is fine." CNN reported today that Treasury Secretary Janet Yellen met with CEOs of large banks yesterday and told them that "more bank mergers may be necessary." Her statements killed a stock rally this week that saw the stocks of regional banks increase 10%, in one of their best weeks since 2020. Not anymore. As ZeroHedge News reported today, reports show that $billions of losses in deposits at U.S. banks have occurred in the past two weeks, with over $70 billion lost in large US Commercial Banks.