The Federal Reserve announced the termination of enforcement actions against Silvergate Bank and its holding company

ChainCatcher news, according to an official announcement, the Federal Reserve Board announced on Friday the termination of enforcement actions against Silvergate Bank located in California and its holding company Silvergate Capital Corporation.

Since May 2023, the Board's enforcement actions ensured that Silvergate Bank was liquidated and ceased operations in a manner that protected depositors. Since then, Silvergate Bank has completed its liquidation and shutdown plan, repaid all customer deposits, and is no longer operating as a bank.