Non-crypto-related deposits held by former Signature Bank (now Signature Bridge Bank) will be assumed by Flagstar Bank, a subsidiary of New York Community Bancorp, as of Monday under a purchase and assumption agreement, the Federal Deposit Insurance Corp. said in a press release on Sunday. Signature Bridge Bank depositors – other than depositors related to the digital banking business – will automatically become depositors of Flagstar, and will continue to be insured by the FDIC up to the insurance limit. Flagstar Bank’s bid didn’t include $4 billion of deposits related to the former Signature Bank’s digital banking business.
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- Source: https://www.coindesk.com/markets/2023/03/20/first-mover-americas-bitcoin-as-safety-play-climbs-past-28k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
