Signature Bank : After SVB, now Signature Bank is also closed, and FDIC takes control

Posted on 13th Mar 2023 03:13 pm by rohit kumar

State regulators also shut down New York-based Signature Bank on Sunday. This made it the third-largest failure in US banking history. News of the Signature Bank failure follows Friday's shutdown of Silicon Valley Bank. It was the second-largest banking collapse in US history after the Washington Mutual disaster during the 2008 recession.

 

 

The Federal Deposit Insurance Corporation (FDIC) took control of Signature Bank, which had $110.36 billion in assets and $88.59 billion in deposits at the end of last year, according to the New York State Department of Financial Services.

 

 

The US Treasury Department and other bank regulators said in a joint statement that all depositors of Signature Bank and Silicon Valley Bank will be paid and taxpayers will not suffer any loss.

 

Also Read: Data Speed: India is ahead of Russia-Argentina in mobile data speed. The country reached 49th position

Other news

World Cup Semi-Final Scenario: 3 days, 3 teams, and one place vacant, know who will win? Will give tough competition to Team India in the semi-finals

World Cup 2023 Semi Finals Analysis. The race for the semi-finals of the ICC ODI World Cup 2023 h

Jaipur CNG Tanker Blast: The death toll in the accident rose to 14, 13 died in SMS and one killed in Jaipuria

Two more people died on Saturday in the LPG tanker blast accident in Jaipur. The death toll in th

Israel Hezbollah War: Israel is on the verge of destroying Hezbollah, now the army has entered Lebanon's border; Read the latest update in 10 points

Israel has intensified its air strikes on Lebanon to eliminate the Iran-backed terrorist organiza

Fighter: Hrithik-Deepika's Fighter released, know whether the aerial action impressed or depressed the audience?

Hrithik Roshan and Deepika Padukone's film Fighter was released on Thursday. The film has made a

Indigo crisis sends airfares soaring, a single ticket from Mumbai to Delhi costs 50,000 rupees, leaving millions of passengers stranded.

The ongoing crisis at India's leading airline, IndiGo (Indigo Flights Crisis), is hitting million

Asian Games 2023: India cuts ticket for semi-finals of Asian Games, rain spoils Malaysia's hopes

India vs. Malaysia Asian Games 2023: The Indian women's cricket team has booked the ticket for th

Grammy Awards 2024: Zakir Hussain created history, and won 3 awards together, Shankar Mahadevan also became a Grammy winner

The Grammy Awards hold the highest status in the world of music. This year the event is being hel

Why is the new sub-variant of COVID-19 NB.1.8.1 in the news? WHO is also keeping an eye on it

The new sub-variant of COVID-19, NB.1.8.1, is in the news these days. It is believed that it can

Forcibly applying colors on Holi is prohibited, and action will be taken if people go out on bikes in groups; Police have issued order

Hyderabad and Cyberabad police have issued a guideline regarding Holi. According to the police no

Delhi Stampede: 'Changing platform after announcement proved costly...', big revelation in RPF report on stampede

A big revelation has been made in the report of the Railway Protection Force (RPF) regarding the