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

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 of Financial Protection and Innovation, […]

Regulators close First Republic Bank, JPMorgan named as the buyer of $330B assets and deposits, FDIC on the hook for $13B by Ingrid Lunden originally published on TechCrunch

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