The international rating agency Moody’s Investors Service placed the rating of the bankrupt American bank Signature Bank in the speculative zone. It announced that it will no longer award ratings to the company for business reasons, RTTNews informs.
Moody’s also said it is reviewing the situation of six other US banks, which may lead to a decision to downgrade their ratings. According to RTTNews, these companies are First Republic Bank, Zions Bancorp, Western Alliance Bancorp, Comerica, UMB Financial Corp and Intrust Financial Corp.
US regulators shut down New York’s Signature Bank on Sunday (March 12). Two days earlier, the same fate befell Silicon Valley Bank (SVB).
The closing of Signature Bank marks the third largest failure in the US banking system. The Federal Deposit Insurance Corporation (FDIC) took control of this bank, whose assets at the end of last year reached 110.36 billion USD (103.08 billion euros) and the value of deposits was 88.59 billion USD.
Signature Bank was a commercial bank with nearly a quarter of its deposits coming from the cryptocurrency sector as of the end of September. However, in December, the bank announced that it would reduce the volume of these deposits by USD 8 billion.
(1 EUR = 1,0706 USD)
Don’t overlook
Fears about the collapse of banks in the US continue, Asian stock markets have recorded a significant decline