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U.S. regulator to sell assets of shuttered Signature Bank

FDIC says bank's loans and deposits remain in receivership

A person waits for a teller at a Signature Bank branch in New York City.   © Reuters

WASHINGTON (Reuters) -- A subsidiary of New York Community Bancorp has entered into an agreement with U.S. regulators to purchase deposits and loans from New York-based Signature Bank, which was closed earlier this month.

The Federal Deposit Insurance Corporation said the deal would see Flagstar Bank, the subsidiary, assume substantially all deposits and certain loan portfolios, and all 40 of Signature Bank's former branches. The FDIC said roughly $60 billion of the bank's loans and $4 billion of its deposits will remain in receivership.

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