sharon sanders
Editor-in-Chief & President
Crypto-friendly Signature Bank shut down by regulators, after collapses of Silicon Valley Bank, Silvergate
Published: March 12, 2023 at 6:35 p.m. ET
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Signature Bank provides deposit services for its clients’ digital assets, but does not invest in, does not trade, does not hold on its own balance sheet or provide custody of digital assets, and does not lend against or make loans collateralized by such assets, the company said.
https://www.marketwatch.com/story/c...es-of-silicon-valley-bank-silvergate-6a7f67ec
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Regulators close New York’s Signature Bank, citing systemic risk
PUBLISHED SUN, MAR 12 20236:24 PM EDTUPDATED 4 MIN AGO
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“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening.
The banking regulators said depositors at Signature Bank will have full access to their deposits.
“All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer,” the regulators said.
Signature is one of the main banks to the cryptocurrency industry. As of Dec. 31, Signature had $110.4 billion in total assets and $88.6 billion in total deposits, according to a securities filing.
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
Published: March 12, 2023 at 6:35 p.m. ET
snip
Signature Bank provides deposit services for its clients’ digital assets, but does not invest in, does not trade, does not hold on its own balance sheet or provide custody of digital assets, and does not lend against or make loans collateralized by such assets, the company said.
https://www.marketwatch.com/story/c...es-of-silicon-valley-bank-silvergate-6a7f67ec
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Regulators close New York’s Signature Bank, citing systemic risk
PUBLISHED SUN, MAR 12 20236:24 PM EDTUPDATED 4 MIN AGO
snip
“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening.
The banking regulators said depositors at Signature Bank will have full access to their deposits.
“All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer,” the regulators said.
Signature is one of the main banks to the cryptocurrency industry. As of Dec. 31, Signature had $110.4 billion in total assets and $88.6 billion in total deposits, according to a securities filing.
https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html