ECB ‘ready to respond as necessary’ to preserve eurozone stability, says Lagarde

News

A unit of New York Community Bancorp has agreed to buy “substantially all” deposits and some loan portfolios of the collapsed Signature Bank, the US federal deposit agency announced on Sunday.

From Monday, Flagstar Bank will acquire 40 former Signature branches, which will be rebranded under its name, the Federal Deposit Insurance Corporation said.

The transaction included the purchase of about $38.4bn of Signature assets, including loans of $12.9bn purchased at a discount of $2.7bn, FDIC said.

The acquisitions by Troy, Michigan-based Flagstar did not include $4bn in Signature’s digital deposits.

Articles You May Like

UK pledges huge increase in computing capacity to build AI industry
World breaches 1.5C global warming target for first time in 2024
Another volatile UST session leads to losses ahead of $12B calendar
Muni yields move higher, extending selloff
Mortgage rates hit highest level since July, crushing application demand