The U.S. Federal Deposit Insurance Corporation (FDIC) investigation into the collapse of Signature Bank found that the root cause of its troubles was “poor management” and risky crypto deposits.
The FDIC released its comprehensive report on Signature Bank and the reasons that led to its failure on April 28. The regulator’s review covered the period between Jan. 1, 2019, to March 12 — when the New York-chartered bank was seized by regulators after experiencing an $18.6 billion bank run within a matter of hours.
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