The New York Department of Financial Services (NYDFS) announced that shortly after Silicon Valley Bank (SVB) was shut down, New York-based cryptocurrency-friendly Signature Bank was also shutting down.
NYDFS Superintendent Adrianne Harris In the press release published on the official website of the institution on March 12, Signature Bank’s announced that it was closed by the appointment of a trustee.
According to the statements, the bank’s total 110.36 billion in addition to the dollar 88.59 billion dollar customer deposits, and FDIC by of insurance stated to exist. of the FDIC management of the bank inherited was also included in the information provided.
The Authority justified this decision. protect consumers, other organizations operating under the regulation maintain one’s stability and global financial system risk factors. keep away taken on behalf of.
On the other hand, the USA Treasury Department, The central bank (FED) and the Federal Insurance Agency (FDIC) In the joint statement published by the company, it was stated that joint decisions were taken in order to maintain the stability of the country’s economy and to keep the banking system alive, and that Signature Bank was closed due to similar risks with Silicon Valley Bank in this direction.