US financial authorities have seized California’s troubled First Republic Bank and sold it to JPMorgan Chase, hoping to bring to a close a two-month banking crisis that has spooked the financial system. First Republic became the third major financial institution in the United States to fail in two months. The deal, announced early on Monday, will see JP Morgan take $173bn of loans, $30bn of securities and $92bn of deposits from the failed lender. There were no details on how much the banking giant would pay. “Our government invited us and others to step up, and we did,” JPMorgan’s CEO Jamie Dimon said in a statement. Al Jazeera’s Kristen Saloomey […]
#FirstRepublic #youtube #stockmarket Former FDIC Chair Bill Isaac joins Yahoo Finance Live to discuss the Fed’s report of the Silicon Valley Bank collapse, the U.S. banking system, regulation, and the outlook for First Republic Bank. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced […]
#youtube #banking #yahoofinance Yahoo Finance Live anchors Dave Briggs and Seana Smith discuss the sharp decline in shares of First Republic Bank amid the ongoing banking crisis. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. […]
