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Stock impact report

Council of Federal Home Loan Banks Applauds GAO Report Findings [Yahoo! Finance]

Signature Bank (SBNY) 
Last signature bank earnings: 4/23 05:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.signatureny.com/investor-relations
Company Research Source: Yahoo! Finance
System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets. The GAO report provides a fact-based account of the role of the FHLBanks in the period up to and during the failures of Silicon Valley Bank (“SVB”), Signature Bank (“Signature”), and First Republic Bank (“First Republic”) between March and May of 2023. The report further notes that the FHLBanks of San Francisco and New York followed established procedures and worked closely with the Federal Reserve, the FDIC, the Federal Housing Finance Agency (which regulates the FHLBank System), and the state banking regulators of SVB, Signature, and First Republic as the three banks' conditions deteriorated. Additional highlights from the GAO report include: Federal financial regulators did not identify FHLBank advances as a factor of concern in any of the three banks' safety a Show less Read more
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