Signature Bank's Debt Sale and Crypto Account Closure Deadline Looms
TL;DR Summary
The FDIC has hired Newmark Group to sell about $60 billion of Signature Bank loans, which is expected to intensify pressure on falling commercial real-estate values. Signature Bank collapsed earlier this month after its customers rushed to pull deposits. The bank held $35.7 billion in real-estate loans at the end of 2022, which accounted for nearly half of its total loans at the time, according to FDIC data.
- Billions in Signature Bank Debt to Be Sold by Newmark Group The Wall Street Journal
- U.S. FDIC tells Signature Bank's crypto clients to close accounts by April 5 Reuters
- 'Hard to fluster' adviser lands central role in US bank mess clean-up Financial Times
- Dear SBNY Stock Fans, Mark Your Calendars for April 5 InvestorPlace
- FDIC Tries to Push Crypto Depositors Stranded by Signature Failure to Cash Out CoinDesk
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
0 min
vs 1 min read
Condensed
30%
97 → 68 words
Want the full story? Read the original article
Read on The Wall Street Journal