{"id":1875269,"date":"2023-03-12T21:28:29","date_gmt":"2023-03-13T01:28:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/regulators-shut-down-signature-bank-two-days-after-silicon-valley-bank-collapse\/"},"modified":"2023-03-12T21:29:33","modified_gmt":"2023-03-13T01:29:33","slug":"regulators-shut-down-signature-bank-two-days-after-silicon-valley-bank-collapse","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/regulators-shut-down-signature-bank-two-days-after-silicon-valley-bank-collapse\/","title":{"rendered":"Regulators shut down Signature Bank two days after Silicon Valley Bank collapse"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fregulators-shut-down-signature-bank-two-days-after-silicon-valley-bank-collapse%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1875269&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78399405\" class=\"brid\" style=\"width:16; height:9;\" itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\">                <meta itemprop=\"name\" content=\"Six takeaways from Biden's big-spending budget proposal\">               <meta itemprop=\"description\" content=\"President Joe Biden released his budget for the next fiscal year on Thursday, outlining the policy priorities that could underpin his reelection bid should he choose to run for a second term. Biden claimed his budget proposal would cut the deficit by $3 trillion over the next decade, although he requested spending increases across virtually every part of the government.\">               <meta itemprop=\"duration\" content=\"PT2M32S\">               <meta itemprop=\"uploadDate\" content=\"2023-03-09 21:59:50\">               <meta itemprop=\"thumbnailURL\" content=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/03\/localimages\/1259651_th_1678399391.jpg640e7c3d41e0c.jpg\">               <meta itemprop=\"contentUrl\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/sd\/1259651.mp4\">              <\/div>\n<p>               <script type=\"text\/javascript\"> var _bp=_bp||[]; _bp.push({ \"div\": \"Brid_78399405\", \"obj\": {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1259651\"} }); <\/script>               <script type=\"text\/javascript\" async src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>              <\/div>\n<\/p><\/div>\n<p><span class=\"ArticlePage-articleBody-firstLetter\">F<\/span>Sunday&#8217;s announcement by state and federal banking regulators was that Signature Bank, the principal financial institution for cryptocurrency companies, had been closed. <\/p>\n<p>In a joint statement by the banks, the bank announced that it had decided to shutter its New York-based branch. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>, <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/treasury-department\" target=\"_blank\" rel=\"noopener\">Treasury Department<\/a>And <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/fdic\" target=\"_blank\" rel=\"noopener\">Federal Deposit Insurance Corporation<\/a>. The FDIC would become customers of Signature Bank and Silicon Valley Bank, according to the trio. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/silicon-valley-bank-fails\" target=\"_blank\" rel=\"noopener\">Friday collapse<\/a> There were fears of a banking crisis. Signature&#8217;s failure is the third largest in U.S. bank history, while SVB comes in at the second. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/silicon-valley-bank-collapse-us-regulators-customer-bail-out-plan\" target=\"_blank\" rel=\"noopener\">SILICON-VALLEY BANK COLLAPSE US REGULATORS ANNOUNCE a Plan to BAIL OUT CUSTOMERS<\/a><\/b> <\/p>\n<p>&#8220;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,&#8221; The statement on SVB was read and added that &#8220;no losses will be borne by the taxpayer.&#8221; <\/p>\n<p>New York bank regulators announced in a separate statement Sunday, that the closure had been approved. &#8220;in light of market events, monitoring market trends, and collaborating closely with other state and federal regulators&#8221; To protect consumers as well as the financial system. <\/p>\n<p>FDIC also created a &#8220;bridge&#8221; Signature customers will be able to access their funds Monday morning at the successor bank. Greg Carmichael CEO of Fifth Third Bancorp was named chief executive of the bridge banking institution by regulator. <\/p>\n<p>These moves are made by federal and state regulators to stop a major bank crisis spreading. <\/p>\n<p>New York Gov. <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kathy-hochul\" target=\"_blank\" rel=\"noopener\">Kathy Hochul<\/a>Democracies<\/p>\n<\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read more from <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/regulators-shut-down-signature-bank-svb-collapse\">Two days after the collapse of Silicon Valley Bank, regulators shut down Signature Bank<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FSunday&#8217;s announcement by state and federal banking regulators was that Signature Bank, the principal financial institution for cryptocurrency companies, had been closed. In a joint statement by the banks, the bank announced that it had decided to shutter its New York-based branch. Federal Reserve, Treasury DepartmentAnd Federal Deposit Insurance Corporation. The FDIC would become customers &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1897023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[5373,7385,4525,9830,4008,21417,8107,8109],"class_list":["post-1875269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-bank","tag-collapse","tag-days","tag-regulators","tag-shut","tag-signature","tag-silicon","tag-valley"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1875269"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1875269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897023"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1875269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1875269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1875269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}