Fastest News Updates around the World

American First Republic to be acquired by JPMorgan

48

- Advertisement -

The US financial authorities seized the California bank First Republic Bank.

It is expected to be acquired by JP Morgan, according to a statement from the sector’s state regulator today, Monday, after efforts to rescue the troubled bank failed.

“To protect savers, the FDIC is entering into a buyout and acquisition agreement with JPMorgan Chase, the National Association and Columbus, Ohio to accept all deposits and all assets of First Republic Bank,” the FDIC said in a statement.

Source: AFP.

Leave a Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More