The US Federal Deposit Insurance Corporation says it has reached a deal to sell deposits and loans from failed Signature Bank.
The FDIC said on Sunday that Flagstar Bank, a subsidiary of New York Community Bancorp, will take on a significant portion of Signature Bank's deposits, some of its loan portfolios and all 40 former branches.
The FDIC says the failure will cost the Deposit Insurance Fund around 2.5 billion dollars.
The deal does not include about 4 billion dollars in deposits related to Signature Bank's digital banking business.
The announcement comes one week after Signature Bank was placed under FDIC receivership.
It had assets worth over 110 billion dollars as of the end of last year. The New York-based firm became the third-largest bank to fail in US history.
The FDIC said on Sunday that Flagstar Bank, a subsidiary of New York Community Bancorp, will take on a significant portion of Signature Bank's deposits, some of its loan portfolios and all 40 former branches.
The FDIC says the failure will cost the Deposit Insurance Fund around 2.5 billion dollars.
The deal does not include about 4 billion dollars in deposits related to Signature Bank's digital banking business.
The announcement comes one week after Signature Bank was placed under FDIC receivership.
It had assets worth over 110 billion dollars as of the end of last year. The New York-based firm became the third-largest bank to fail in US history.
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Summary
US Federal Deposit Insurance Corporation (FDIC) has agreed to sell deposits and loans from failed Signature Bank to Flagstar Bank, a subsidiary of New York Community Bancorp. This includes portions of Signature's deposit base, loan portfolios, and 40 branches. The deal will cost the Deposit
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ID: 25d682b8-5d7d-4edd-b036-44be6328669f
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230320_27/
Date: March 20, 2023
Created: 2023/03/20 22:57
Updated: 2025/12/09 06:01
Last Read: 2023/03/20 23:01