FDIC Considers Takeover of First Republic Bank
TL;DR Summary
The Federal Deposit Insurance Corporation (FDIC) is approaching big banks about buying First Republic (FRC), suggesting regulators intend to seize the San Francisco lender soon. JPMorgan Chase and PNC are both vying to buy First Republic in a deal following a government takeover. The FDIC may be able to find a buyer among the big banks that is willing to take all of First Republic's deposits and perhaps some of its troubled assets, too.
- FDIC approaches big banks about buying First Republic Yahoo Finance
- First Republic Bank to be taken over by FDIC: Report Fox Business
- First Republic teeters on the edge — again CNN
- Banks Versus FANGs: First Republic Just Doesn't Matter That Much Bloomberg
- Summers on First Republic Bank Bloomberg Television
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