Wow.
Wow.
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.
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[Source Article](https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html)
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