The Federal Deposit Insurance coverage Company (FDIC) revealed a 63-page report outlining points Signature confronted, attributing its failure to “poor administration,” saying the financial institution closely relied on uninsured deposits, didn’t have sturdy liquidity danger administration practices and maintained poor danger administration typically. These components had been exacerbated by a financial institution run spurred by the collapse of the opposite banks, the report mentioned. The financial institution servicing the crypto business was additionally cited as a significant danger issue.
