Signature Bank Is Shut by Regulators After SVB Collapse...من Tiyas

13 Mar 2023, 10:09 · Views 63

Failure of real estate lender hobbled by crypto bet is third-largest in history

Signature Bank was closed by regulators on Sunday, the second massive bank failure in three days.

The New York-based bank faced a crisis of confidence after midsize lender SVBFinancial Corp. was seized by regulators on Friday. Signature was also reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked down on lenders’ exposure to digital assets. The failure is the third-largest in history.

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