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First RepublicBank Corporation FDIC Fdic  Form

First RepublicBank Corporation FDIC Fdic Form

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on Monday United States Regulators said that first public bank has been seized and a deal agreed to sell the bank to JP Morgan cheese and Company this is the third major US institution to fail in Just 2 months The Regulators said that the Wall Street major bank will take most of first Republic's assets and all the deposits including uninsured ones sources said that JP Morgan was one of several interested buyers including PNC Financial Services Group and citizens Financial Group Inc which submitted final bids on Sunday in an auction being run by us Regulators the California Department of Financial Protection and Innovation announced early on Monday that it had taken possession of First Republic and the Federal Deposit Insurance Corporation or FDIC would act as its receiver the FDIC estimated that the cost of the deposit Insurance Fund would be about $13 billion the final cost will be determined when the FDIC terminates the receivership the rescue comes less than 2 months after S

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