Signature Bank's assets, minus the crypto, are now owned by Flagstar Bank Digitalassets SignatureBank FlagstarBank
- Despite last week’s denial by the Federal Deposit Insurance Corporation that there were no crypto-related stipulations included in its attempt to sell Signature Bank, it was announced on Monday that the bank’s deposits and loans have been sold to Flagstar Bank, a subsidiary of New York Community Bankcorp, but that its crypto-related deposits were not be included as part of the deal.
Included in the announcement was the statement that, “Depositors of Signature Bridge Bank, N.A., other than cash depositors related to the digital-asset banking businesses, will automatically become depositors of the assuming institution.” The $4 billion figure amounts to 4.5% of the total $88.6 billion deposits that Signature Bank had as of Dec. 31.
“Approximately $60 billion in loans will remain in the receivership for later disposition by the FDIC,” the announcement said. “In addition, the FDIC received equity appreciation rights in New York Community Bancorp, Inc., common stock with a potential value of up to $300 million.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Flagstar Bank buys Signature Bank, crypto business not includedThe FDIC is selling Signature Bank’s deposits and loans to Michigan-based Flagstar Bank. The deal does not include the bank’s crypto-related deposits and business, including Signet. New York Community Bancorp-owned Flagstar Bank has offered to buy Signature Bank, the crypto-friendly financial institution that was seized by the U.S. Federal Deposit Insurance Corp (FDIC) last week. […]
Read more »
New York Community Bank to buy failed Signature BankThe 40 branches of Signature Bank will become Flagstar Bank, starting Monday
Read more »
New York Community Bank to buy failed Signature BankNew York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a $2.7 billion deal, the Federal Deposit Insurance Corp. said…
Read more »
New York Community Bank to buy failed Signature BankNew York Community Bank has agreed to buy a significant chunk of the failed Signature Bank in a US$2.7 billion deal, the Federal Deposit Insurance Corp. said late Sunday.
Read more »
West Bank attack casts shadow over Israel-Palestinian talksA Palestinian gunman opened fire at an Israeli vehicle in the occupied West Bank on Sunday, wounding two people, Israeli officials said. The attack cast a shadow over Egyptian-mediated efforts to lower tensions ahead of a sensitive holiday period beginning this week.
Read more »
OSFI seizes Silicon Valley Bank's Canadian assets: Here are the week's top 7 storiesFinancial Post reporter Stephanie Hughes counts down the stories that made headlines this week. Watch here.
Read more »