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30-04-2023, 03:40 PM
US regulators have asked several financial institutions to submit an offer to buy the assets of the First Republic bank, which has been in turmoil since mid-March.
According to several American media, the FDIC is seizing the troubled credit institution. Based on the amount of assets (233 billion dollars at the end of March), it would be the second largest bank failure in the history of the United States (excluding investment banks like Lehman Brothers) after that of Washington. Mutual in September 2008, ahead of Silicon Valley Bank (SVB) and Signature Bank in March.
The FDIC would then quickly sell some or all of the bank's assets to another institution.
It is likely that the process will be concluded by an agreement on Sunday evening before the opening of the Asian markets.
First Republic, the 14th largest US bank by assets, had received $30 billion in deposits from this banking alliance.
https://www.latribune.fr/entreprises-fin...60737.html
According to several American media, the FDIC is seizing the troubled credit institution. Based on the amount of assets (233 billion dollars at the end of March), it would be the second largest bank failure in the history of the United States (excluding investment banks like Lehman Brothers) after that of Washington. Mutual in September 2008, ahead of Silicon Valley Bank (SVB) and Signature Bank in March.
The FDIC would then quickly sell some or all of the bank's assets to another institution.
It is likely that the process will be concluded by an agreement on Sunday evening before the opening of the Asian markets.
First Republic, the 14th largest US bank by assets, had received $30 billion in deposits from this banking alliance.
https://www.latribune.fr/entreprises-fin...60737.html
