JPMorgan's First Republic acquisition raises questions about bank size and risk.

Federal Reserve Chair Jerome Powell called the seizure of First Republic and its sale to JPMorgan Chase an "important step toward drawing a line under" the banking stress that started nearly two months ago. Powell also stated that the banking system is sound and resilient, and that the concerns about the regional banking system should now lessen. However, stocks of several regional banks came under pressure following Powell's remarks.