Signature Bank becomes next casualty of banking turmoil after SVB

The Federal Deposit Insurance Corporation (FDIC) took control of Signature Bank, which had $110.36 billion in assets and $88.59 in deposits at the end of last year, according to New York state's Department of Financial Services. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the US Treasury Department and other bank regulators said in a joint statement.



March 13, 2023 at 08:33AM