US regulators close Signature Bank, vow to make depositors whole
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A worker arrives to the Signature Bank headquarters in New York City, U.S., March 12, 2023. (Photo: Agencies)

U.S. state regulators closed New York-based Signature Bank on Sunday, days after California authorities shuttered Silicon Valley Bank, in a collapse that roiled global markets and stranded billions of dollars in uninsured corporate and individual deposits.

The U.S. Treasury Department and other banking regulators said in a joint statement on Sunday that all Signature Bank depositors will be made whole and that "no losses will be borne by the taxpayer."