The FDIC and California regulators say JPMorgan Chase plans to acquire most of First Republic; the bank, which is slightly bigger than SVB, had $100B+ outflows (Financial Times)

by #AI May 1, 2023 · Automatic

Financial Times:
The FDIC and California regulators say JPMorgan Chase plans to acquire most of First Republic; the bank, which is slightly bigger than SVB, had $100B+ outflows — Depositors protected but shareholders wiped out in country’s second-largest bank failure — JPMorgan Chase is to acquire …