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Time is up: FDIC prepares to place First Republic under receivership - report

It appears as though the clock ran out on First Republic Bank.Reuters, citing sources, reports that the US Federal Deposit Insurance Corporation is preparing to place the struggling bank under receivership "imminently".It's no surprise as reports on Friday suggested that time was running out and that no private sector-led rescue was coming. Various reports said there were banks who were prepared to buy and run FRC within the FDIC resolution mechanism.Shares of the company fell 43% on Friday and... Read More

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Posted: Apr 28 2023, 23:21

Author Name: forexlive

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