Signature Bank

Blackstone Inc. (NYSE: BX) is reportedly the lead contender in the purchase of a $17 billion portfolio of commercial-property loans from the Federal Deposit Insurance Corporation’s sale of Signature Bank's debt. This comes as regulators attempt to offload the fallen bank's debts....

The Basel Committee on Banking Supervision has released draft guidelines stipulating that financial institutions should offer numerical and descriptive data concerning their cryptocurrency dealings. This directive complements the substantial capital prerequisites the committee previously instituted...

The trial of Sam Bankman-Fried, the controversial co-founder of the now-defunct crypto exchange FTX (CRYPTO: FTT), is underway with the initial phase of juror selection and assessment. This process, overseen by U.S. District Judge Lewis Kaplan, continued into its second day after some...

The Federal Deposit Insurance Corp. (FDIC) has kickstarted the sale of a loan portfolio valued at $18.5 billion held by Signature Bank. This portfolio is a collection of debt linked to prominent private equity and investment firms. As Bloomberg’s Natalie Wong reported on Friday, the portfolio...

Renowned “Shark Tank” investor Kevin O’Leary has expressed concerns that the current cycle of U.S. Federal Reserve rate hikes could lead to an increase in regional U.S. bank failures, CNBC reports. Fed’s Rate Hike Cycle: O’Leary, who heads his own early-stage venture...

24 Exchange, a trading platform that secured $14 million in funding in late 2021, which included support from Point72 Ventures led by Steve Cohen, has decided to discontinue its spot cryptocurrency product. This comes as global regulators intensify their scrutiny of cryptocurrencies. The Bermuda-...

New York Community Bancorp, Inc. (NYSE: NYCB) strategic acquisitions, solid loan and deposit balances, manageable debt level, and robust liquidity are likely to keep supporting financials. Yet, increasing expenses, deteriorating asset quality and geographic concentration are headwinds. New...

Senators Cory Booker (D-NJ) and Raphael Warnock (D-GA), both members of the Senate Agriculture Committee, along with U.S. Rep. Steve Cohen (D-TN), introduced the bicameral Re-Entry Support Through Opportunities for Resources and Essentials (RESTORE) Act, legislation that would...

Former executives from bankrupt Silicon Valley Bank and Signature Bank sought to explain the sequence of events that led to the two banks' failures in March before the Senate Banking, Housing and Urban Affairs Committee on Tuesday.  “We took risk management seriously,...

Greg Becker, the former CEO of SVB Financial Group, the parent company of Silicon Valley Bank, attributed the bank’s collapse to a combination of factors, including rapid rate hikes by the Federal Reserve and negative sentiment amplified by social media. ...

The Federal Deposit Insurance Corporation said on Thursday that of the total cost of the failures of Silicon Valley Bank and Signature Bank, approximately $15.8 billion was attributable to the protection of uninsured depositors. FDIC stated that banking organizations with total assets over $50...

The U.S. is reportedly set to exempt smaller banks from kicking in extra money to refill the government's deposit insurance fund and instead saddle the biggest lenders with bulk of the bill. What Happened: The Federal Deposit Insurance Corporation is likely to release a highly anticipated proposal...

The Senate Banking Committee on Thursday held a hearing on the recent spate of bank failures. Senator Sherrod Brown (D-OH), the Committee Chairman, underscored the importance of heightened accountability for banking executives. He advocated for legislation that would enhance the authority of...

Federal Reserve Bank of New York President John Williams reportedly said on Monday that he doesn't think the pace of rate hikes caused the crisis at the two banks back in March. What Happened: The vice-chairman of the Federal Open Market Committee was referring to the failures of Silicon Valley...

Adrienne Harris, superintendent of the New York Department of Financial Services, on Wednesday, said that the closure of Signature Bank in March was not due to its exposure to cryptocurrency.  What Happened: Harris made the statement at the Chainalysis Links conference in New York City....