California regulators seize troubled First Republic Bank

California regulators seize troubled First Republic Bank
California regulators have seized the troubled First Republic Bank, with JPMorgan Chase taking over all deposits and most assets (Jeff Chiu/AP)
Mon, 01 May, 2023 - 09:22
Ken Sweet, Associated Press

California regulators have seized the troubled First Republic Bank, with JPMorgan Chase taking over all deposits and most assets, the Federal Deposit Insurance Corp said on Monday.

The FDIC said the regulators have closed First Republic and appointed it as receiver.

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