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.
Milind Bharambe, Police Commissioner of Navi Mumbai in Maharashtra, said an investigating officer
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