ALBAWABA - The United States closed down Signature Bank, in the second bankruptcy case within days after the closure of Silicon Valley.
A second bank, #SIGNATUREBANK, shuts down/closed. The markets may be in a wild spin today. Usa financial system is on the brink of a collapse as we move into digital tokenization on the blockchain.
— David Vega - Chicago | Jacksonville | New York (@tridence) March 13, 2023
Bailouts on banks must come? $SBNY pic.twitter.com/izqSmodQv8
On Sunday, the New York State Department of Financial Services acquired Signature Bank.
NEW:
— Nick Timiraos (@NickTimiraos) March 12, 2023
*Signature Bank has been closed
*All depositors of Silicon Valley Bank and Signature Bank will be fully protected
*Shareholders and certain unsecured debtholders will not be protected
*New Fed 13(3) facility announced with $25 billion from ESF to backstop bank deposits pic.twitter.com/LKipIRMg1T
Sources confirmed that depositors in the bank will be compensated, amid assurances that taxpayers will not bear any losses.
According to the information circulated, deposits with the bank, headquartered in New York, amounted to about $88.59 billion until Dec.31.
JUST IN - Signature Bank has been closed by U.S. regulators.
— Disclose.tv (@disclosetv) March 12, 2023
The incident comes within days after the closure of the Silicon Valley Bank, where its deposits were confiscated, and it was considered the largest American banking failure since the financial crisis of 2008.
After SVB failure, regulators close crypto-friendly bank Signature Bank https://t.co/Op9bdIqVJk
— Cryptoprenure (@Cryptoprenure) March 13, 2023
