Amid the SVB collapse, regulators closed New York-based Signature Bank.
Second Failure: Signature Bank Has Collapsed!
BREAKING: Signature Bank of New York has just collapsed.https://t.co/WbqTs6b1DA
Press Release
March 12, 2023
Superintendent Adrienne A. Harris Announces New York Department of Financial Services Takes Possession of Signature Bank
Superintendent https://t.co/uWMcCrSXAe… https://t.co/8LZwwc1LHJ
— DailyNoah.com (@DailyNoahNews) March 12, 2023
Read the full press release:
Superintendent Adrienne A. Harris announced today that the New York Department of Financial Services (DFS) has taken possession of Signature Bank, pursuant to Section 606 of New York Banking Law, in order to protect depositors. DFS appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of the bank.
Signature Bank is a New York state-chartered commercial bank and is FDIC-insured, with total assets
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