Banks including Citizens Financial Group Inc, PNC Financial Services Group and JPMorgan Chase & Co are among roughly half a dozen bidders vying to buy First Republic Bank in an auction process being run by U.S. regulators, according to sources familiar with the matter.
The process kicked off this week after the lender that got swept up in a banking crisis last month failed to come up with a deal without government help, three of the sources familiar with the situation said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Republic Bank headed for FDIC receivership, says report, as worries of fresh sector turmoil growAnother U.S. bank — First Republic — is likely headed for receivership reports said in a fresh sign that more banking turmoil is coming. Read on.
Source: nationalpost - 🏆 10. / 80 Read more »
First Republic expected to collapse by Monday, but Fed won’t pivot - Michael LeeMichael Lee, Founder of Michael Lee Strategy, joins Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News to discuss the unfolding banking crisis in...
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
First Republic plunges on expectation of seizure by FDIC - BNN BloombergFirst Republic Bank shares fell as much as 54 per cent in extended New York trading on speculation that it would be seized by regulators, as regional US lenders are pressured by deposit drains and weakening investments.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
First Republic Bank headed for FDIC receivership, says report, as worries of fresh sector turmoil growAnother U.S. bank — First Republic — is likely headed for receivership reports said in a fresh sign that more banking turmoil is coming. Read on.
Source: financialpost - 🏆 7. / 85 Read more »