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US FDIC asks JPMorgan, PNC for final First Republic bids – Bloomberg News

The banking regulator reached out to banks late on Thursday seeking indications of interest, including a proposed price and estimated cost to the agency’s deposit insurance fund, the report said. Based on those submissions on Friday, the FDIC invited at least two companies to the next step in the bidding, the report added, citing people familiar with the matter. The FDIC said in an email: “We would not comment on or confirm whether we are bidding an open institution.”

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