Washington: US Treasury Secretary Janet Yellen on Sunday said the government wanted to avoid financial "contagion" from the implosion of the Silicon Valley Bank but ruled out a bailout of the institution.

"We want to make sure that the troubles that exist at one bank don't create contagion to others that are sound," Yellen said during an interview with CBS.

"Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out...and the reforms that have been put in place means we are not going to do that again," Yellen told the CBS News Sunday Morning show.

"But we are concerned about depositors and are focused on trying to meet their needs," Yellen said.