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A Deal On First Republic Is Apparently Getting Closer

US

The FDIC was expected to announce the results of an auction for the troubled First Republic Bank on Sunday night. But Reuters sources have said that regulators have had to go back numerous times to ask bids to be revised and for certain criteria to be fine-tuned on assets that were being bid. Apparently though, a decision is getting closer.

  • Reuters notes that a deal re First Republic would be watched closely for how much financial support will come from the government.
    - Reuters

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