JP Morgan to buy First Republic's assets and assume deposits...

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2023-05-01 12:46:45 -

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JP Morgan to buy First Republic's assets and assume deposits (AUDIO)

(Reuters) – United States regulators said on Monday First Republic Bank has been seized and a deal agreed to sell the bank to JPMorgan Chase & Co, in what is the third major U.S. institution to fail in two months. The banking giant will take $173 billion of loans and about $30 billion of securities …

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