Signature Bank is one of the 22 portfolio investments held by Marlin Global. The equity investment in Signature Bank, as at the most recent net asset value (NAV) equated to 3.3% of Marlin’s investment portfolio.
In a joint announcement by the US Treasury, Federal Reserve and Federal Deposit Insurance Corporation (FDIC), that the FDIC have taken control of Signature Bank, in order to stabilise the banking system and safeguard against systemic banking risk.
The move by the FDIC will protect all of Signature Bank’s deposit holders, but will not protect Signature Bank shareholders or certain unsecured debt holders.
The next Marlin Global NAV will be released to the NZX on March 16.
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