Signature Bank was closed by regulators on 12 March, the second massive bank failure in three days.
The New York-based bank faced a crisis of confidence after midsize lender Silicon Valley Bank was seized by regulators on 10 March. Signature was also reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked down on lenders’ exposure to digital assets. The failure is the third-largest in US history.
