Regulators have just closed New York’s Signature Bank, citing systemic risk

Mar 12, 2023

Regulators have just closed New York’s Signature Bank, citing systemic risk

Mar 12, 2023

U.S. regulators said Sunday it shut down New York-based Signature Bank , a second financial institution they shuttered after Silicon Valley Bank’s collapse.

“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joined statement Sunday evening.

According to CNBC News, The banking regulators said depositors at Signature Bank will have full access to their deposits. “All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer,” the regulators said.


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Signature is one of the main banks to the cryptocurrency industry. As of Dec. 31, Signature had $110.4 billion in total assets and $88.6 billion in total deposits, according to a securities filing.

About the Author

End Time Headlines is a ministry founded, owned, and operated by Ricky Scaparo, established in 2010 to equip believers and inform discerning individuals about the “Signs and Seasons” of the times in which we live. Ricky authors original articles and curates news from mainstream sources, carefully selecting topics, verifying information, and utilizing artificial intelligence tools to ensure content is both timely and accurate. Every piece is personally reviewed and edited by Ricky to align with the ministry’s mission of providing a prophetic perspective on current events.

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