Regulators close New York’s Signature Bank, citing systemic risk

Geopolitics
#1

U.S. regulators said Sunday it shut down New York-based Signature Bank, a second financial institution they shuttered after Silicon Valley Bank’s collapse.

“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,” Treasury, Federal Reserve, and FDIC said in a joined statement Sunday evening.

Click here: https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html

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Crypto Bank Collapse
#2

On a nonbanking day, you’ll note. Something’s up with the banking system – either some kind of infighting/consolidation (if I recall, JP Morgan / Chase benefited from the SVB collapse by getting some of its market share), or the whole thing is starting to break apart at the seams yet again.

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#3

Part of the purge of banks dealing in crypto and “special” customer service for high roller clients.

#4

CAF is saying recently that whoever is behind CBDC wants to destroy banking system first before rolling a Saviour of the day a digital currency.
We might be at early stages purposeful bank failures, and of course there is a possibility that since China was heavily invested in SVB, that it is a chess move on their part.

#5

Trading halted for multiple U.S. bank stocks at open‼️

WesternAllianceBancorp down75%
FirstRepublicBank down66%
CustomersBancorp down54%
PacWestBancorp down46%
ZionsBancorp down44%
BankofHawaii down42%
Comerica down39%
EastWestBancorp down32%

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#6

@antimason this is important news!
Would you repost this at drAlicia original post about SVB, we’re trying to organize responses in one spot to keep lively exchanges and ease up searches. Thank you.

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#7

QVBB - Yes, it could be part of a move to get rid of banks, or to get rid of all but a handful of the big ones.

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