First Republic Bank’s sale to JP Morgan Chase added to industry angst
Another week, another bank failure.
On Monday, the Federal Deposit Insurance Corporation seized First Republic Bank and sold it to JPMorgan Chase, ending weeks of tumult that saw the institution’s stock plunge nearly 90 percent the past two months.
The sale to JPMorgan, the country’s largest bank, likely includes $103 billion in residential mortgages, some $23 billion in multifamily loans and close to $11 billion in other commercial real estate obligations...
...moreOn Monday, the Federal Deposit Insurance Corporation seized First Republic Bank and sold it to JPMorgan Chase, ending weeks of tumult that saw the institution’s stock plunge nearly 90 percent the past two months.
The sale to JPMorgan, the country’s largest bank, likely includes $103 billion in residential mortgages, some $23 billion in multifamily loans and close to $11 billion in other commercial real estate obligations...
RSK: Temper, temper now boys...take a deep breath!
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- - Volume: 11 - WEEK: 19 Date: 5/9/2023 5:20:59 PM -