FDIC prepares to place First Republic under receivership 

by DailyBriefers
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Business & Finance

Reuters was the first to report that a U.S. banking regulator was preparing to put regional lender First Republic Bank in receivership, marking the second largest U.S. bank failure of all time and the biggest since the 2008 financial crisis. First Republic shares dropped as much as 58% in after-market trading on Friday after the news. The U.S. Federal Deposit Insurance Corporation placed First Republic in receivership on Monday and sold a substantial majority of its assets to JPMorgan Chase. 

Market Impact

First Republic shares dropped as much as 58% in after-market trading on Friday after the news. 

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Americas

Countries: United States

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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