Regulators close First Republic Bank, JPMorgan named as the buyer of $330B assets and deposits, FDIC on the hook for $13B

TechCrunch
By Ingrid LundenMay 1, 2023, 4:18 am565 ptsHotTop
First Republic Bank (FRB), on the brink of collapse in the weeks after the Silicon Valley Bank crisis, has finally fallen over, but with a relatively quick resolution into its next chapter: today the Federal Deposit Insurance Corporation (FDIC) announced that it was being closed by the the California Department…

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