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New York-based _________Bank was shut by regulators in the US, becoming the second bank in the country after Silicon Valley Bank.
A)
Signature Bank
B)
Chase Bank
C)
Silvergate Bank
D)
Santander Bank

Correct Answer :   Signature Bank


State regulators closed New York-based Signature Bank on Sunday (12th March 2023), making it the third largest failure in U.S. banking history.

* Becoming the second bank in the country after Silicon Valley Bank.

* The Federal Deposit Insurance Corporation (FDIC) has been appointed as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and others.

* The standard insurance amount from FDIC is $250,000 per depositor, per bank, for each account ownership category...

Source : India Times

Published On : March 14, 2023
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