Another BANK SHUTDOWN...

[dasari4kntr]

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

[dasari4kntr]

Regulators Close Signature Bank, Say Depositors of Silicon Valley, Signature to Be Made Whole

 

After a dramatic few days in the banking industry, regulators stepped forward Sunday to restore faith in the banking system and said that depositors of now-defunct Silicon Valley Bank would be made whole even as they closed Signature Bank.

“Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth,” read a joint statement by the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation.

The move comes two days after the sudden collapse of Silicon Valley Bank sparked fears that other banks could face a similar fate, putting depositors at risk.

The regulators said Sunday that all depositors at Silicon Valley Bank would have access to their deposits Monday.

“No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” they wrote.

The regulators also announced that New York-based Signature Bank SBNY –22.87%  was closed by its state chartering authority and said that depositors of the institution would be made whole.

In a separate announcement, the Federal Reserve said that it would make additional funding available to eligible banks so that they can meet the needs of 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,” the regulators wrote.

 

[Oscar_Buddodu]

42 minutes ago, dasari4kntr said:

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

Lk of DB who had no tone to thin lk and eating my Lanjodaka 

[pandu123b]

what the hell’s happening,

edo chala teda kodutundi..

ee mooseyatalu endi saamy..

shareholders em ——vali

[Ravi860]

Yea all are bailed out though. Market will be green 

[pandu123b]

33 minutes ago, Ravi860 said:

Yea all are bailed out though. Market will be green 

share holders money dobbite , enduku green aindi, bro , confused.

does not make sense 

[Ravi860]

3 minutes ago, pandu123b said:

share holders money dobbite , enduku green aindi, bro , confused.

does not make sense 

Bank customers are saved bro… fed restoring trust so market will like it. But CPI data on Tuesday 

[yemdoing]

44 minutes ago, pandu123b said:

what the hell’s happening,

edo chala teda kodutundi..

ee mooseyatalu endi saamy..

shareholders em ——vali

March will be wild ride ka baap for shareholders and investors. Eventually for public 

[Android_Halwa]

First Republic Bank kuda atu itu annate vundi ani talk nadustundi...

[Oscar_Buddodu]

2 hours ago, dasari4kntr said:

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

You happy ra lk of this Em who here 24/7

[pandu123b]

11 hours ago, Ravi860 said:

Bank customers are saved bro… fed restoring trust so market will like it. But CPI data on Tuesday 

look at future bro

banks ite deep red,

❤️da andaruki money istadi anta government, shareholders ki chippa anta

inte untadi mari, eedu eedi plan, em advisors ra nayana

[phatposts]

11 hours ago, Android_Halwa said:

First Republic Bank kuda atu itu annate vundi ani talk nadustundi...

wow avuna?

i always thought they are a very "rich" bank. 

[bschi]

11 hours ago, Android_Halwa said:

First Republic Bank kuda atu itu annate vundi ani talk nadustundi...

This is true, I heard this from one of my friends who works at SVB. He was super panic until Friday and they got a 45 day extension on Friday and then over the weekend, if I understand correctly, Fed and FDIC made additional announcement to bailout SVB by rebranding and assuring all the depositors with out sticking to 250k limit.. 

I think for now, until SVB gets a new owner, all employees and depositors are taken care by FDIC

[ARYA]

14 hours ago, dasari4kntr said:

Regulators Close Signature Bank, Say Depositors of Silicon Valley, Signature to Be Made Whole

 

After a dramatic few days in the banking industry, regulators stepped forward Sunday to restore faith in the banking system and said that depositors of now-defunct Silicon Valley Bank would be made whole even as they closed Signature Bank.

“Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth,” read a joint statement by the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation.

The move comes two days after the sudden collapse of Silicon Valley Bank sparked fears that other banks could face a similar fate, putting depositors at risk.

The regulators said Sunday that all depositors at Silicon Valley Bank would have access to their deposits Monday.

“No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” they wrote.

The regulators also announced that New York-based Signature Bank SBNY –22.87%  was closed by its state chartering authority and said that depositors of the institution would be made whole.

In a separate announcement, the Federal Reserve said that it would make additional funding available to eligible banks so that they can meet the needs of 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,” the regulators wrote.

 

signature whisky vinna bank vinaledu ani @csrcsr antunde