These FAQs provide: (A) initial high-level statutory and regulatory responses to the general FDIC receivership process; and (B) initial high-level responses to common questions regarding the failure of each of Silicon Valley Bank and Signature Bank, New York..
Additional developments relating to the Silicon Valley Bank and Signature Bank failures have occurred, and the situation continues to evolve. Upon the closure of Silicon Valley Bank the.
Signature Bank, New York, NY was closed by New York State Department of Financial Services, which also appointed FDIC as receiver. FDIC transferred all deposits and substantially all assets of SigBank to Signature Bridge Bank, N.A.
The Federal Deposit Insurance Corporation (“FDIC”) is the federal agency charged with providing deposit insurance for insured financial institutions in the United States. Specifically,.