FDIC pins Signature Financial institution's failure on poor governance and illiquidity

The US Federal Deposit Insurance coverage Corp’s (FDIC) autopsy evaluation of Signature Financial institution of New York (OTC:) revealed poor administration and insufficient threat administration practices as the basis trigger for its collapse.

Signature Financial institution was shut down by federal regulators on March 12 in a bid to guard the U.S. economic system and strengthen public confidence within the banking system. FDIC was appointed to deal with the insurance coverage course of.

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