REGULATORS CLOSE NEW YORK’S SIGNATURE BANK, CITING SYSTEMIC RISK: CNBC
Related:
Silicon Valley Bank & Signature Bank
https://freerepublic.com/focus/f-news/4137676/posts
“...’Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.’
The statement - which was jointly issued by Janet Yellen, the Treasury Secretary; Jerome Powell, chair of the Federal Reserve; and Martin Gruenberg, chair of the FDIC - revealed for the first time that Signature Bank was also teetering.
Signature Bank had 38 private client offices throughout New York, Connecticut, California, and North Carolina.
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Signature Bank and 3 others (not including SVB)
https://freerepublic.com/focus/f-news/4137670/posts
“...trading in a number of regional US banks was halted on Friday amid a massive sell-off. Some of the affected regional US banks are First Republic, Signature Bank, PacWest Bancorp and Western Alliance Bancorp.
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And from the latest ThreatMatrix:
https://freerepublic.com/focus/bloggers/4120141/posts?page=164#164
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RELATED - Several regional bank stocks were halted Friday as ripples fanned outward from the SVB crash. These were –
- First Republic Bank,
- PacWest Bancorp,
- Western Alliance Bancorp and
- Signature Bank were all halted for volatility after sharp declines in early trading.
First Republic had fallen by as much as 50%. PacWest and Western Alliance had slid more than 30%. Signature was down by about 25%.
Other banks potentially facing trouble include –
- EBH Customers Bancorp,
- Sandy Spring,
- New York Community,
- First Foundation,
- Ally,
- Dime Community,
- Pacific Premier,
- Prosperity,
- Columbia Financial
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