The International Monetary Fund (IMF) appreciates quick action by U.S. regulators to seize First Republic Bank and find a private buyer, an IMF spokesperson said on Monday.
A security guard stands outside a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. REUTERS/Loren Elliott/File PhotoIt said the resilience of the global financial system continued to be tested and strains were evident across a number of institutions and markets.
"Recent events continue to remind us of the challenges posed by the interaction between tighter monetary and financial conditions and the buildup in vulnerabilities in the global financial system. We appreciate the quick and orderly resolution of this troubled bank by the U.S. regulators,” the spokesperson said.
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Federal regulators race to seize and sell First Republic BankBREAKING: Federal regulators are racing to seize and sell First Republic Bank as soon as this weekend, a source familiar with the matter told ABC.
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What's next for troubled First Republic Bank | CNN BusinessFirst Republic Bank is still an independent bank. The question Saturday was how much longer that will continue to be true.
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JPM, Bank of America consider First Republic bids as FDIC sets Sunday noon deadlineThe goal is that 'somebody else buys them and hopefully opens them up as soon as possible so there’s not turmoil in the markets,' a person familiar with the matter said.
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FDIC sets Sunday deadline for First Republic Bank bids: ReportThe FDIC set a Sunday deadline for bidding on First Republic Bank and has asked JPMorgan Chase & Co., PNC Financial Services Group, and other banks to send final bids.
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FDIC races to find buyer for collapsing First Republic Bank: reportFederal regulators are scrambling to find a buyer for First Republic Bank as the banking company’s stocks continue to tumble, according to sources.
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First Republic’s crisis is not an isolated incident - suggests JPMorgan execIn an April 27 Bloomberg Interview, JP Morgan Asset Management CIO, Bob Michele said that the crisis currently faced by First Republic Bank, isn’t “limited” to the bank itself, but a wider banking problem. He noted “some sort of resolution' is vital.
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