The key point: This is pretty ideal from my perspective. The investors and owners of the bank lose out, the depositors are fine.
The key point:
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. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.
Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.
The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.
This is pretty ideal from my perspective. The investors and owners of the bank lose out, the depositors are fine.
https://watcher.guru/news/signature-bank-board-member-says-closure-was-a-strong-anti-crypto-message Depending on your news sources, crypto is being blamed for these shut downs. Other...
Depending on your news sources, crypto is being blamed for these shut downs. Other finger-pointing includes banks’ treasury management, investor-caused bank run, Trump rollback of Dodd-Frank, the fed raising interest rates too quickly, Sen Warren anti-crypto crusade, and more.
Important part for this is that depositors are safe, but with all of these different interests involved I fear this chaos isn’t over over by a long shot.
The key point:
This is pretty ideal from my perspective. The investors and owners of the bank lose out, the depositors are fine.
https://watcher.guru/news/signature-bank-board-member-says-closure-was-a-strong-anti-crypto-message
Depending on your news sources, crypto is being blamed for these shut downs. Other finger-pointing includes banks’ treasury management, investor-caused bank run, Trump rollback of Dodd-Frank, the fed raising interest rates too quickly, Sen Warren anti-crypto crusade, and more.
Important part for this is that depositors are safe, but with all of these different interests involved I fear this chaos isn’t over over by a long shot.