Banks are collapsing like domino’s….
NEW - First Republic Bank has been seized by U.S. regulators. The bank will be sold to JPMorgan Chase.
This is the second largest bank failure in U.S. history. FDIC estimates a $13 billion loss to the deposit insurance fund.
U.S. Treasury said the country's banking system "remains sound and resilient" after the bank's collapse this morning.
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https://nypost.com/2023/05/01/u-s-re...jp-morgan/amp/
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