In the United States, the bankrupt commercial bank Signature Bank, the second financial institution they closed after Silicon Valley Bank, was closed on March 12. This became known from a joint statement by the US Department of the Treasury, the Federal Reserve System and the Federal Deposit Insurance Corporation.
We are also announcing a similar systemic risk exemption for Signature Bank.
Silicon Valley Bank was shut down by the California financial regulator on March 11. Axios wrote that the United States is facing a crisis in the banking system because of this. Later, the US authorities decided that all depositors of the bankrupt bank would have access to the funds in their accounts in full on March 13.
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