US Regulators Seize Troubled First Republic Bank, Name JPMorgan Chase as Buyer
May 1st 2023 7:51am EDT
WASHINGTON (Sputnik) – US regulators closed First Republic Bank, which has struggled since the collapse of Silicon Valley Bank and Signature Bank in March, the Federal Deposit Insurance Corporation (FDIC) announced on Monday, naming JPMorgan Chase as the buyer of First Republic’s assets and deposits worth over $330 billion combined.
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