<story><title>FDIC Establishes Signature Bridge Bank, N.A., As Successor to Signature Bank</title><url>https://www.fdic.gov/news/press-releases/2023/pr23018.html</url></story><parent_chain></parent_chain><comment><author>tgsovlerkhgsel</author><text>This sounds like it&amp;#x27;s basically the opposite of a bailout: It&amp;#x27;s the FDIC stepping in, removing management, likely wiping out shareholders, but otherwise letting the bank operate normally with customers fully protected - instead of letting management continue to run the bank in ways that may lead to losses.</text></comment>
<story><title>FDIC Establishes Signature Bridge Bank, N.A., As Successor to Signature Bank</title><url>https://www.fdic.gov/news/press-releases/2023/pr23018.html</url></story><parent_chain></parent_chain><comment><author>everybodyknows</author><text>&amp;gt; The transfer of all the deposits was completed under the systemic risk exception approved earlier today. All depositors of the institution will be made whole.&lt;p&gt;Signature was #32 by total assets.  By other Treasury pronouncements, only #1-#4 were &amp;quot;systemically important&amp;quot;.  One&amp;#x27;s head spins ...&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;banks.data.fdic.gov&amp;#x2F;bankfind-suite&amp;#x2F;financialreporting?establishedEndRange=3%2F12%2F2023&amp;amp;establishedStartRange=01%2F01%2F1792&amp;amp;inactiveEndRange=3%2F12%2F2023&amp;amp;inactiveStartRange=01%2F01%2F1970&amp;amp;incomeBasis=YTD&amp;amp;institutionType=banks&amp;amp;limitEstablishedDate=false&amp;amp;limitInactiveDate=false&amp;amp;pageNumber=2&amp;amp;reportPeriod=20221231&amp;amp;resultLimit=25&amp;amp;sortField=ASSET&amp;amp;sortOrder=DESC&amp;amp;unitType=%24&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;banks.data.fdic.gov&amp;#x2F;bankfind-suite&amp;#x2F;financialreportin...&lt;/a&gt;&lt;p&gt;&amp;gt; No losses will be borne by the taxpayers.&lt;p&gt;None except those with bank accounts, who can expect higher fees as the balance sheet losses are recovered by what is effectively a systemwide tax on all banks.&lt;p&gt;&amp;gt; Any losses to the Deposit Insurance Fund (DIF) to support uninsured depositors will be recovered by a special assessment on banks, as required by law.</text></comment>