WASHINGTON, Mar 20 Four dozen branches of Signature Bank will start working from Monday under the control of Flagstar Bank, which bought almost all the deposits and part of the loan portfolio of the bankrupt US bank , said the FDIC regulator — the Federal Deposit Insurance Corporation.
Sunday's deal brought $38.4 billion of $110.4 billion worth of Signature Bank's assets under control of Flagstar Bank, a subsidiary of New York Community Bancorp.
«Forty former Signature Bank branches will operate under the control of…Flagstar Bank, N.A., as of Monday, March 20, 2023,» the release said.
The deal does not include $4 billion in deposits and $60 billion in loans, which remain at the disposal of the FDIC.
New York's Signature Bank authorities closed due to «systemic risks» after California's Silicon Valley Bank, one of the twenty largest US commercial banks, went bankrupt. The problems of the American banking system are associated with an increase in the rate of the Federal Reserve System, which turned into a depreciation of assets on the balance sheets of many financial institutions.