FDIC report cites poor management as cause of Signature Bank collapse.

The FDIC released an internal review report evaluating its supervision of Signature Bank, New York, from 2017 until its failure in March 2023. The report identifies poor management as the root cause of the bank's failure and assesses the FDIC's supervision of the bank. The report finds that the FDIC conducted targeted reviews and ongoing monitoring but could have escalated supervisory actions sooner and experienced resource challenges with examination staff. The report recommends further study by the FDIC related to examination guidance, processes, and resources.