JP Morgan to take over major US bank First Republic
JP Morgan Chase is set to take over the troubled US bank First Republic in a deal brokered by regulators.that First Republic Bank had collapsed on Monday.
The San Francisco-based lender's shares fell by more than 75% last week after it admitted that customers had withdrawn $100bn of deposits in March. He added that the acquisition would "modestly benefit" the firm and would be "complementary" to the existing business. The failed bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank from Monday after regulators seized control and immediately sold to the Wall Street institution.
Founded in 1985, First Republic is a mid-sized US lender, similar to Silicon Valley Bank. For years, it has catered to wealthy clients - whose money was at risk before the deal was announced after a weekend of negotiations.When Silicon Valley Bank and Signature collapsed, the FDIC said it would guarantee all deposits to prevent a rush of people trying to get their money out, which is known as a run on a bank.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
US regulator asks banks including JPMorgan and PNC to bid for First Republic\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Lire la suite »
JPMorgan, Citizens and PNC submit bids for First Republic\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Lire la suite »
First Republic in limboNews, analysis and comment from the Financial Times, the worldʼs leading global business publication
Lire la suite »
JPMorgan to acquire First Republic’s deposits as US regulators step in\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
Lire la suite »
Piers Morgan calls Leeds players 'selfish arrogant p*****' for appearing to ignore fansLeeds United players have come under fire for appearing to ignore awaiting fans at their team hotel this weekend. A short clip posted on social media shows the players leaving their hotel in Bourne…
Lire la suite »
First came the sprint shootout, next Sergio Perez jokes there'll be a boxing ring'I think it wouldn't be long before they put a ring in the middle of the track and put all the drivers together to get a fight...' F1 AzerbaijanGP Formula1
Lire la suite »