Investing
FDIC pins Signature Bank’s failure on poor governance and illiquidity
The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (OTC:) revealed poor management and inadequate risk management practices as the root cause for its collapse.
Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy and strengthen public confidence in the banking system. FDIC was appointed to handle the insurance process.
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