Signature Bank News

The global financial crisis looms over the world markets as global banks one after another faced the turmoil in the past one week including the shutdown of the Silicon Valley Bank and Signature Bank. 

SVB collapse predicts result in a long funding winter for the Indian startups. Many start-ups at their early and mid-level have been funded by the SVB’s incubation fund like Y-Combinator. Two days after the collapse of the Silicon Valley Bank, another US lender, Signature Bank was shut down on Sunday by the Federal Deposit Insurance Corporation (FDIC).

In America, 2 banks have crashed within 1 week. The first is Silicon Valley Bank and the second is Signature Bank. US President Joe Biden's statement on the lockout of banks has come to the fore

The US Treasury Department and other bank authorities declared in a joint statement that "no losses will be borne by the taxpayer" and that all of the depositors of Signature Bank and Silicon Valley Bank will get full compensation.