JPMorgan Chase secures deal to take over First Republic Bank after the regional bank was shut by the California regulator.
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JPMorgan Chase has won the auction to take over fallen First Republic Bank, the Federal Deposit Insurance Corp. announced early Monday morning.
The deal will see America’s largest bank JPM assume all the deposits and “substantially all the assets” of First Republic FRC.
The deal will see First Republic depositors — which include 11 leading…
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