First Republic Bank Closed by Regulators, Second Largest Bank Failure in US History
United States regulators said on Monday that First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co, in what is the second largest bank failure in US history.
United States regulators said on Monday that First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co, in what is the second largest bank failure in US history. The development comes less than two months after Silicon Valley Bank and Signature Bank failed amid a deposit flight from U.S. lenders, forcing the Federal Reserve to step in with emergency measures to stabilise markets. Silicon Valley Bank Sold to First Citizens Bank For US Dollar 500 Million.
First Republic Bank Closed
BREAKING: First Republic Bank closed by regulators, 2nd largest bank failure in U.S. history
— BNO News Live (@BNODesk) May 1, 2023
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