Regulators close New York’s Signature Bank, citing systemic risk

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Regulators close New York’s Signature Bank, citing systemic risk (archive.ph)

U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.

“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening. . . .

>U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis. >“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening. . . . [Source Article](https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html)

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