Phillips curve | FRC | FDIC | JP Morgan

Alessio Farhadi

Speevr Intelligence
May 1, 2023

JP Morgan buys First Republic from FDIC

Over the weekend, the FDIC took over First Republic Bank (FRC) and immediately sold it to JP Morgan Chase (JPM) for $10.6bn. JPM will guarantee all deposits, and will promptly return $25bn cash to the private consort...

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