First Republic Bank collapses, JP Morgan to take over ‘all deposits’
JP Morgan will assume insured and uninsured deposits totalling $92 billion, and $30 billion in securities from First Republic Bank.
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Show Notes
Investment banking firm JP Morgan Chase will take over all of the deposits — insured and uninsured — and almost all assets of collapsed First Republic Bank, the Federal Deposit Insurance Corporation confirmed in a statement on Monday.
Listen to the article to find out the billions of dollars of cash in play as JP Morgan looks to take on the deposits and assets of First Republic Bank.
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