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A day after the Silicon Valley Bank witnessed a downfall, New York-based Signature Bank was closed by the state’s financial regulators on Sunday as the fallout from last week’s implosion of SVB Financial Group’s Silicon Valley Bank spreads to other lenders.

After Silicon Valley Bank, Now New York-Based Signature Bank Collapses
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After Silicon Valley Bank, Now New York-Based Signature Bank Collapses

Signature Bank, a New York bank, was also closed by regulators over the weekend. Signature depositors will also be made whole. -- aaa