Regulators close New York’s Signature bank, say depositors will be made whole

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By Hannah Lang (Reuters) -State regulators closed New York-based Signature Bank on Sunday, just two days after California authorities shuttered Silicon Valley Bank, in a collapse that roiled global markets and stranded billions of dollars of deposits. The U.S. Treasury Department and other bank regulators said in a joint statement on Sunday that all depositors of Signature Bank will be made whole, and “no losses will be borne by the taxpayer.” The Signature failure is the third-largest in U.S. banking history. New York banking regulators appointed the Federal Deposit Insurance Corporation (FDI…

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