New York state's Department of Financial Services said on Sunday (Mar 12) it has taken possession of New York-based Signature Bank and appointed the US Federal Deposit Insurance as receiver, the second bank failure in a matter of days. Signature Bank had deposits totalling about US$88.59 billion as of Dec
New York state's Department of Financial Services said on Sunday it has taken possession of New York-based Signature Bank and appointed the US Federal Deposit Insurance as receiver, the second bank failure in a matter of days.
Signature Bank had deposits totalling about US$88.59 billion as of Dec 31, the department said in a statement.The US Treasury Department along with other bank regulators said in a joint statement on Sunday that all depositors of Signature Bank will be made whole, and that"no losses will be borne by the taxpayer".
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