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FedFin Assessment: FDIC Blames Signature Governance, Clarifies Failure Scenario
In this report, we build on our assessment earlier today of the Fed’s SVB autopsy (see Client Report REFORM221) with an assessment of the FDIC’s self-review of Signature’s failure. As noted on Friday, the FDIC confines this report to Signature’s supervision; a separate report will address policy recommendations. Although the analysis has some findings in common with the Fed’s SVB assessment with regard to matters such as supervisors’ failure to keep up with a fast-growing bank, the FDIC principally focuses on key risk indicators at the bank rather than supervisory shortcomings.
The full report is available to retainer clients. To find out how you can sign up for the service, click here and here.…