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FDIC

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16 May 23

FDIC chair takes responsibility for Signature Bank’s collapse, also cites crypto

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A report from the FDIC has revealed that poor management was the primary cause of Signature Bank’s failure, uncovering the key factor responsible for the bank’s downfall. In response, the chair has assumed responsibility for the identified shortcomings, acknowledging accountability for […]

Silicon Valley Bank3

02 Apr 23

FDIC reportedly places SVB funds, including customer deposits, under receivership

A fortnight after the newly appointed Silicon Valley Bank (SVB) chief executive officer (CEO) cheered customers to return funds to the bank, the Federal Deposit Insurance Corporation (FDIC) has reportedly sent emails informing customers that their funds were in receivership. Mayopolous woos depositors Developments emanating from the embattled SVB, after Mayopolous’ advice, have shocked depositors as […]

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30 Mar 23

FDIC gives Signature crypto customers deadline to close accounts

Signature Bank’s crypto clients have been given a deadline to close down their accounts and move their deposits following the recent takeover of the bank. According to Bloomberg, the US Federal Deposit Insurance Corporation (FDIC) informed customers of the failed Signature Bank to close their accounts and move their deposits by April 2023. Depositors who […]

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16 Mar 23

FDIC insists buyer of Signature Bank drop crypto operations

The federal deposit insurance corporation (FDIC) has demanded that the prospective buyer of New York-based Signature Bank relinquish all cryptocurrency operations, highlighting growing regulatory concerns around digital assets. The federal deposit insurance corporation (FDIC), a U.S. government agency responsible for protecting depositors, is demanding that the prospective buyer of Signature Bank must forgo its cryptocurrency […]

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14 Mar 23

FDIC plans second SVB auction after first failed attempt

The US Federal Deposit Insurance Corporation (FDIC) is looking to make another attempt at auctioning assets of collapsed Silicon Valley Bank (SVB) after failing to find a buyer the first time. According to the Wall Street Journal, the FDIC informed Senate Republicans that the 9agency had more flexibility to sell SVB’s assets after regulators labeled […]

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