2023-05-01 08:58:24
Financial authorities have taken control of the ailing Californian bank First Republic Bank which will be acquired by the American banking giant JPMorgan, announced on Monday the FDIC, the agency in charge of guaranteeing bank deposits and the bank.
The institution had been under severe pressure since the close failures of two institutions with a similar profile in early March, Silicon Valley Bank and Signature, seized by regulators after massive withdrawals from customers worried about their viability.
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#Republic #Bank #seized #authorities #acquired #JPMorgan
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