Treasury secretary Janet Yellen to face Senate panel on Silicon Valley Bank – live

Finance committee to hold hearing on bank’s collapse and the role relaxing banking regulations had in the crisis

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Good morning, US politics blog readers. It seems like the American banking system is out of the woods for the moment, after coming very close to a crisis at the start of this week when the collapse of Silicon Valley Bank and other financial institutions sparked fears of a wave of insolvencies. We’re going to hear more about how that crisis was averted (at least for now) from Treasury secretary Janet Yellen beginning at 10 am eastern time, when she speaks before the Senate finance committee. Democrats will undoubtedly press her on whether tighter regulations could have stopped the bank’s collapse, while Republicans are expected to demand answers on whether Washington’s steps to stop its depositors from losing money constitute a bailout.

Here’s what else is happening today:

The Senate will convene at 10 am today to vote on repealing the legal authorizations behind the Iraq war, 20 years after the American invasion.

White Press secretary Karine Jean-Pierre briefs reporters at 2 pm.

Kamala Harris is in Iowa to discuss the Biden administration’s efforts to protect reproductive healthcare.