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NYC pension funds lose $2M in failed First Republic, Signature banks

Por: New York Post Business May 21, 2023

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City pension funds had almost $2 million invested with First Republic and Signature banks — losing it all when both banks failed this year. The losses were contained in new data The Post obtained from the city Comptroller’s office under a Freedom of Information Law request. Though a federal bailout rescued bank depositors, the city’s pension cash had been invested in bank stocks and bonds. “The overall loss is negligible in the context... + full article



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