Dave Lauer
A
The FDIC has accepted JP Morgan deal to acquire First Republic - JP pays $10.6B to FDIC, FDIC provides $50B 5-year fixed-rate financing. A bunch of large US banks had come in to help prop up FRC, they all get paid back. FRC branches open today as JP Morgan branches. Big banks keep getting bigger.
09:03 AM - May 01, 2023
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