New York State Regulators Shut Down Signature Bank, Which Has Been Taken Over by US FDIC

March 13 TuoniaoX.com news, the Federal Reserve announced that New York-headquartered Signature Bank was shut down by New York state regulators on Sunday. New York State Department of Financial Services head Adrianne Harris stated that the Federal Deposit Insurance Corporation (FDIC) has taken over the bank. This marks the third bank failure within a week, following the collapses of Silvergate Bank and Silicon Valley Bank on Wednesday and Friday of last week, respectively. Harris stated that this action was taken "to protect depositors."