Tagged: signature bank

December 26, 2023 @ 6:50 am By Omar Faridi  |  

Santander Bank, N.A. (NYSE: SAN)announced that it has closed a transaction with the Federal Deposit Insurance Corporation (FDIC) to participate in a joint venture that consists of a $9 billion portfolio of New York based multifamily real estate assets retained by the FDIC following the… Read More

April 30, 2023 @ 5:55 pm By JD Alois  |  

On Friday, the Federal Deposit Insurance Corporation (FDIC) issued a report on the failure of Signature Bank. The report scrutizined oversight of the bank from 2017 until its collapse in March 2023. The cause of the failure reflects a similar report posted by the US… Read More

March 30, 2023 @ 5:19 pm By JD Alois  |  

Signature Bank, soon to be part of Flagstar Bank (a subsidiary of New York Community Bancorp Inc.), has given the boot to deposits by crypto firms. According to multiple reports, the FDIC has crypto-affiliated accounts to leave by April 5th. After that, the check will… Read More

March 29, 2023 @ 9:11 am By JD Alois  |  

Federal regulators will return to Capitol Hill today to continue the discussion on the events that led up to the failure of multiple banks at a hearing of the House Financial Services Committee. Yesterday, regulators testified in front of the Senate Banking Committee. While little… Read More

March 20, 2023 @ 7:03 pm By JD Alois  |  

The House Financial Services Committee is demanding answers on how regulators failed in their oversight of Silicon Valley Bank and Signature Bank. Chair of the Committee, Patrick McHenry, has been joined by the Ranking Member of the Senate Committee on Banking, Tim Scott, are requesting… Read More

March 20, 2023 @ 8:35 am By JD Alois  |  

Signature Bridge Bank, the new bank created by the Federal Deposit Insurance Corporation (FDIC) after it took over failed Signature Bank, is effectively being acquired by a subsidiary of New York Community Bancorp. According to a statement by the FDIC, substantially all deposits and certain… Read More

March 17, 2023 @ 9:03 am By Omar Faridi  |  

Robinhood Inc (NASDAQ:HOOD) has reportedly decided to make an exception to its short position ban for customers who had placed winning “puts” against failed lender Signature Bank (Nasdaq: SBNY), the FT revealed on Thursday (March 16, 2023). Put options are essentially contracts that provide a… Read More

March 13, 2023 @ 7:47 pm By JD Alois  |  

Perhaps a bit late, Fitch Ratings has downgraded and withdrawn Signature Bank’s (SBNY) ratings. Signature Bank was shuttered this past weekend by the New York Department of Financial Services. Signature, active in the crypto sector, suffered a similar shortcoming to Silicon Valley Bank as it… Read More

March 12, 2023 @ 6:47 pm By JD Alois  |  

The US Department of Treasury, FDIC and Federal Reserve have joined to protect all account holders at the Silicon Valley Bank (NASDAQ:SIVB), which was taken over by the federal government on Friday. The exceptional action means that accounts holding over $250,000 will have access to… Read More

April 19, 2021 @ 1:51 pm By JD Alois  |  

Circle, a Fintech in the stablecoin and payments sector, says it has partnered with Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank to hold billions of dollars in reserve deposits related to USD Coin (USDC). Circle states that the two companies are committed to… Read More

March 18, 2021 @ 6:41 pm By JD Alois  |  

Arca Labs, part of Arca – a digital assets investment firm, has revealed an agreement with Signature Bank (NASDAQ:SBNY) that enables Signature Bank clients with access to the bank’s Signet digital payment platform, to initiate purchases of shares of the Arca US Treasury Fund (ArCoin)… Read More

July 25, 2020 @ 2:04 pm By Omar Faridi  |  

New York-based Signature Bank (Nasdaq: SBNY), a cryptocurrency-friendly commercial bank with around $50 billion in total assets, has reported consistent and steady growth this quarter. According to the bank’s recent earnings call, it has achieved around $8 billion in deposit growth. Approximately 2.5% of these… Read More

June 23, 2020 @ 3:35 pm By Samantha Hurst  |  

Signature Bank (Nasdaq: SBNY), a U.S.-based full-service commercial bank, announced on Tuesday the launch and integration of the full functionality of its proprietary, blockchain-based digital payments platform, Signet, with Fireblocks, an enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets. Effective immediately, Signature… Read More

April 25, 2020 @ 11:28 am By Omar Faridi  |  

New York-based Signature Bank, a cryptocurrency-friendly commercial bank with around $50 billion in total assets, has reportedly experienced a 30% drop in its total income during Q1 2020, when compared to the same time period last year. This could be due to the Coronavirus (COVID-19)… Read More