Adrienne Harris, superintendent of the New York Department of Financial Services, seen during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., on May 18. Photo: Al Drago/Bloomberg
New York Department of Financial Services Superintendent Adrienne Harris told state senators on Tuesday that her agency has identified a number of banks that have high percentages of uninsured deposits, and a number of other risk factors, in wake of the agency’s closing of Manhattan-based Signature Bank in March.
Harris told the Senate Committee on Banks the agency is requiring daily liquidity reporting from each of those institutions, to ensure that they have enough fluidness in the event that those institutions experience “a propulsive run,” as Signature Bank had.
A Signature Bank branch in Brooklyn, New York. Photo: Angus Mordant/Bloomberg
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
