2 years ago
Quick Take
- According to the Kobessi letter, JP Morgan said its acquisition of First Republic would make a one-time summation of $2.6 billion.
- Not lone that, JP Morgan besides expects implicit $500 cardinal successful nett per twelvemonth from the acquisition.
- First Republic Bank is the 2nd largest slope to person failed successful the U.S. It is present down Washington Mutual.
- The FDIC estimated that the outgo to the deposit security money would beryllium astir $13 billion.
- However, JP Morgan should beryllium ineligible to get FRB nether U.S. regularisation arsenic they person already amassed much than 10% of its nationwide deposits. Authorities person made an exemption.
Biggest Bank failures: (Source: Bloomberg)The station JP Morgan and First Republic Bank deal: a measurement towards fiscal monopoly? appeared archetypal connected CryptoSlate.
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