JPMorgan takes over First Republic after it's seized by Californian financial regulat

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JPMorgan takes over First Republic after it's seized by Californian financial regulator

Since the sudden collapse of Silicon Valley Bank, attention has focused on First Republic as the weakest link in the U.S. banking system.

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Jamie Dimon: ‘This part of the crisis is over’ after JPMorgan Chase acquires First Republic

The crisis that led to the downfall of three regional U.S. banks in recent weeks is largely over after the resolution of First Republic, according to JPMorgan Chase CEO Jamie Dimon.

JPMorgan emerged as the winner of a weekend auction for First Republic after regulators decided that time had run out on a private sector solution.

“There are only so many banks that were offsides this way,” Dimon told analysts in a call shortly after the deal was announced.
https://www.cnbc.com/2023/05/01/jamie-dimon-jpmorgan-first-republic.html
 
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