Beware the Ides of March – practical considerations if your bank is failing
By EsqSocial Corporation 27/03/23
Everybody knows that, logically, banks can fail. Few expect them to. Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on 10 March 2023, and the Federal Deposit Insurance Corporation (FDIC) appointed as receiver. Signature Bank, New York, NY was closed on 12 March 2023 and again the FDIC was appointed as receiver. In the evening of 12 March 2023, the U.S. Department of the Treasury, the Federal Reserve, and FDIC released a joint statement announcing that all depositors of...
By: Hogan Lovells