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FDIC Accept JP Morgan Bid for First Republic Bank

GLOBAL
  • The Federal Deposit Insurance Corporation accepts JPMorgan Chase’s bid to assume First Republic Bank’s deposits, “including uninsured deposits, and substantially all assets,” according to a statement.
  • First Republic Bank had total assets of approximately $229.1 billion and total deposits of approximately $103.9 billion
  • https://dfpi.ca.gov/2023/05/01/california-financia...
  • *FDIC: FIRST REPUBLIC BANK OFFICES WILL REOPEN AS JPM BRANCHES (BBG)
  • *FDIC SEES COST TO DEPOSIT INSURANCE FUND WILL BE ABOUT $13B (BBG)

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