First Republic + JPMorgan Chase: What happens next?
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Banking leaders hope First Republic deal ends seven-week crisis: The faltering bank's sale could work to quell any lingering unrest among depositors at other banks, according to analysts. "No one likes to see a bank fail, but it's good to have really the last remaining source of uncertainty resolved," said Citigroup CEO Jane Fraser.
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Read more on the demise and sale of First Republic Bank: JPMorgan to acquire failed regional bank First Republic; How will First Republic's failure impact the mortgage market? Biden, lawmakers revive bank rule fights in wake of First Republic failure; BankThink: First Republic's failure shows need for major deposit insurance reform; and an updated Hall of shame: 10 biggest bank failures.
FDIC proposes higher deposit insurance for business accounts: The Federal Deposit Insurance Corporation (FDIC) 's deposit insurance review following a string of bank failures said the most balanced approach to modifying deposit insurance would be to provide higher insurance coverage to business accounts, which would reduce systemic risk and promote market discipline.
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