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GeniusMusing (geniusmusing@nu.federati.net)'s status on Monday, 13-Mar-2023 07:41:51 JST GeniusMusing
Update:
Regulators close New York's Signature Bank, citing systemic risk
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
>“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.
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>The banking regulators said depositors at Signature Bank will have full access to their deposits.
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>“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.