patrick-boyle 11 months ago
university professor #Economy and Crypto

Why First Republic Bank Was Seized and Sold to JPMorgan?

The FDIC took possession of First Republic Bank on Monday, resulting in the third failure of an American bank since March.

JPMorgan Chase, already the largest U.S. bank by several measures, emerged as the buyer in a weekend auction for First Republic.

It will get all of the ailing bank’s deposits and a “substantial majority of assets.”

Patrick Boyle
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