Signature Bank joins all in the efforts of the public and private sectors in doing whatever we can to limit the disruption to the economy as health professionals and governments around the world battle the spread and effects of the coronavirus (COVID-19) pandemic. We are actively monitoring the situation and continue to take what we believe are the necessary steps to address the well-being of our associates and clients alike.
We have implemented our Business Continuity Plans to enable Signature Bank to maintain client service from coordinated remote locations as well as from our contingency operations sites.
We also want to update you on the strength of Signature Bank’s current position during this time of market volatility. As of March 26, 2020, in addition to exceptionally high capital ratios and strong credit ratings, Signature Bank remains among the top 40 largest banks in the country. We retain significant liquidity and have actively positioned our balance sheet to elevate liquidity capacity even further. Our current overnight cash position has been elevated by $1.5 billion. We have a highly liquid investment portfolio with free borrowing capacity of $6 billion. As contingency, we have available undrawn lines of funding with the Federal Home Loan Banks system in the amount of $10 billion, and we placed collateral available at the Federal Reserve discount window worth an additional $1 billion. In total, our liquidity position and contingency equals $18.5 billion.
Signature Bank, now more than ever, is dedicated to helping your business succeed and prosper, and we remain confident that together we will not only weather the current global crisis, we will all come out of it stronger.
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April 1, 2020
CURRENT FINANCIAL CENTER/BRANCH AVAILABILITY - OPEN BY APPOINTMENT from 10 a.m to 2 p.m
Manhattan: 565 Fifth Avenue / Union Square
Brooklyn: Bay Ridge / Downtown Brooklyn
Bronx: Hunts Point
Queens: Forest Hills / Jackson Heights
Nassau County: Woodmere /Great Neck
Suffolk County: Hauppauge
Westchester & Connecticut: White Plains / Greenwich, CT
Staten Island: Hylan Blvd
All other Signature Bank locations are temporarily closed. All openings are listed as of today’s date and are subject to change without notice. Please visit the Locations page of SignatureNY.com for address details.