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First Republic auction underway. Deal seen before markets reopen

First Republic auction underway. Deal seen before markets reopen
The US FDIC is holding a auction of the assets of First Republic Bank this weekend, according to a Reuters report. There are roughly six bidders for the assets, including a bid from JPMorgan.The report says bidders were asked for non-binding bids Friday and will be studying FRC's books over the weekend.A deal is expected before Asian markets open.In all likelihood a wind down of the bank will allow markets to move on but there's also the risk that it sparks fears elsewhere or triggers trouble at... Read More
Posted: Apr 29 2023, 19:24
Author Name: forexlive
Views: 112529

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