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-Signature Bank agrees to consent order by FDIC.

Global Banking News-December 31, 2010--Signature Bank agrees to consent order by FDIC(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 31 December 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Signature Bank of Arkansas has announced that it has entered into an agreement with the FDIC to comply with a consent order.

The order had accused the bank of following unsafe and unsound banking practices. The bank said that it was in the process of taking steps mentioned under the consent order.

The bank, to comply with the order, would have to maintain a tier 1 risk-based capital ratio of nine per cent, and needs to take measures to increase capital.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

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Publication:Telecomworldwire
Date:Dec 31, 2010
Words:138
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