Regulators close Signature bank, announce plan to make depositors whole
By Hannah Lang
(Reuters) -The New York State Department of Financial Services announced Sunday that it had taken control of Signature Bank in New York and named the U.S. Federal Deposit Insurance Corp receiver. This was the second bank failure in a matter of hours.
Signature Bank had deposits amounting to $88.59 billion at Dec. 31, according the department in a statement.
Signature Bank didn’t immediately respond to our request for comment.
In a joint statement, the U.S. Treasury Department and other regulators stated that Signature Bank depositors will be compensated. “no losses will be borne by the taxpayer.”
(Reporting by Hannah Lang, Washington; Editing By Leslie Adler & Lisa Shumaker).
“From Regulators close Signature bank and announce plan for making depositors whole”
“The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily”
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Physician's Choice Probiotics 60 Billion CFU - 10 Strains + Organic Prebiotics - Immune, Digestive & Gut Health - Supports Occasional Constipation, Diarrhea, Gas & Bloating - for Women & Men - 30ct
Vital Proteins Collagen Peptides Powder, Promotes Hair, Nail, Skin, Bone and Joint Health, Zero Sugar, Unflavored 19.3 OZ