• About
  • Privacy Policy
  • Contact
Monday, October 27, 2025
No Result
View All Result
NEWSLETTER
Diplomatic Info
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
No Result
View All Result
Diplomatic Info
No Result
View All Result
Home Business

US regulators shut down Signature Bank

by Diplomatic Info
March 13, 2023
in Business, International
1
US regulators shut down Signature Bank
0
SHARES
9
VIEWS
Facebook ShareShare on WhatsAppTweet it!

Federal Deposit Insurance Corporation appointed as receiver of bank, a big lender in crypto industry

NEW YORK 

US regulators shut down New York-based Signature Bank on Sunday in an effort to prevent a banking crisis from spreading in the wake of last week’s failure of Silicon Valley Bank (SVB).

In a statement, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said the department has taken possession of Signature Bank, adding this was done “in order to protect depositors.”

“DFS appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of the bank,” Harris said.

She said the bank is FDIC-insured, with total assets of nearly $110.36 billion and total deposits of about $88.59 billion as of the end of 2022.

“DFS is in close contact with all regulated entities in light of market events, monitoring market trends and collaborating closely with other state and federal regulators to protect consumers, ensure the health of the entities we regulate, and preserve the stability of the global financial system,” she said.

Signature Bank has been a big lender to the crypto industry, being second only to Silvergate Capital, which announced last Wednesday that it will close operations and liquidate its bank

SVB was first FDIC-insured institution to fail in 2023

Shares of California-based SVB dropped more than 60% on Thursday after it sold a $21 billion bond portfolio at a nearly $1.8 billion loss and announced that it planned to raise more than $2 billion in capital.

Its operations were suspended as the bank continued to lose in the futures market after some venture capital investors advised startups to pull their money from the bank to avoid losses on deposits in excess of the FDIC’s $250,000 coverage limit.

The California Department of Financial Protection and Innovation (DFPI) took possession of the bank and appointed the FDIC as the receiver of SVB, which caused a decline in the markets. The SVB was the first FDIC-insured institution to fail 2023.

SVB became the largest bank failure since the 2008 financial crisis.

Diplomatic Info

Diplomatic Info

Next Post
Georgian premier describes protests in Tbilisi as ‘a provocation’

Georgian premier describes protests in Tbilisi as ‘a provocation’

Comments 1

  1. graliontorile says:
    3 years ago

    WONDERFUL Post.thanks for share..more wait .. …

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Obi: We’re demanding president from South-East, not Igbo head of state, Ohaneze says

Obi: We’re demanding president from South-East, not Igbo head of state, Ohaneze says

3 years ago
428 suspected criminals nabbed in Lagos black spots in one week

428 suspected criminals nabbed in Lagos black spots in one week

1 year ago

Popular News

  • After two years of SEC denial, Oando can finally hold AGM

    After two years of SEC denial, Oando can finally hold AGM

    0 shares
    Share 0 Tweet 0
  • Bats are hosts to a range of viruses but don’t get sick – why?

    0 shares
    Share 0 Tweet 0
  • SAPS Special Task Force member shot in Pretoria, 4 arrested

    0 shares
    Share 0 Tweet 0
  • In first calls to leaders, Biden speaks to Britain, Canada, Mexico

    0 shares
    Share 0 Tweet 0
  • 8 killed, 25 injured in Cameroonian bus crash

    0 shares
    Share 0 Tweet 0

Connect with us on Facebook

Subscribe to Our Newsletter

Enter your email now to join our community of readers, and get new contents straight to your inbox

We promise to not spam you

Thanks for joining in.

Category

  • Africa
  • Benin
  • Burkina Faso
  • Business
  • Cote D'Ivoire
  • Cover Story
  • Diplomacy
  • ECOWAS
  • Education
  • Embassy News and Info
  • Events
  • Ghana
  • Guinea
  • Guinea Bissau
  • International
  • Liberia
  • Mali
  • News
  • Niger
  • Nigeria
  • Politics
  • Programs
  • Security
  • Senegal
  • Sierra Leone
  • The Gambia
  • Togo
  • Uncategorized

Quick Links

  • About
  • Contact
  • Privacy Policy
  • Advertise

About Us

Providing strategic insights into important social, cultural, political, and economic factors that significantly influence business and nations, Diplomatic Info will examine these critical issues and provide strategies that create competitive advantages.

© 2025 Diplomatic Info - Proudly designed with Love from Talongeeks.

No Result
View All Result
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Business
  • Politics
  • Security
  • News
  • Cover Story
  • Africa
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • The Gambia
    • Cote D’Ivoire
    • Ghana
    • Cabo Verde
    • Benin
    • Burkina Faso
  • International
  • Contact

© 2025 Diplomatic Info - Proudly designed with Love from Talongeeks.