Chase Takes Over First Republic Bank - Surprising News
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 Published On May 1, 2023

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Breaking news, Chase Takes Over First Republic Bank in Surprising News. Over the weekend a deal was struck with Chase through an auction created by the Fed to rescue First republic bank.

JPMorgan Chase has played a major role in helping to stabilize the US banking system, but at what cost.

The deal to buy First Republic Bank will cost billions, but the stock market seems to have kept doing business as usual. There was a lot of money at stake, but the hit to the US economy of the second largest bank failure would have been a bigger hit.

Customers of First Republic bank have been protected by the FDIC and will eventually become customers of Chase Bank.

Hopefully, this is the last of the banks to fail this year and things will begin to stabilize. Continue to keep an eye on the banks especially with the next Fed meeting happening this week. Will they raise interest rates or not? That remains to be seen.

#wealthtwins #jpmorganchase #firstrepublicbank

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