Banking Crisis Continues to Loom Despite Jamie Dimon's Comments and First Republic's Collapse

JPMorgan Chase CEO Jamie Dimon's claim that the recent banking crisis was over following the acquisition of First Republic may be premature, according to David Pierce, director of strategic initiatives at GPS Capital Markets. Pierce suggested that the central bank and regulators may not have their fingers on the pulse with regards to ensuring smaller lenders have access to adequate money supply. The FDIC has estimated that the cost to its Deposit Insurance Fund of the First Republic collapse will be around $13 billion.