Archiv: First Republic Bank


04.05.2023 - 09:09 [ ORF.at ]

Zehntes Mal in Folge: US-Notenbank Fed erhöht Leitzins erneut

Mit einem erneuten Zinssprung um 0,25 Prozentpunkte liegt dieser nun in der Spanne von 5,0 bis 5,25 Prozent, wie die Federal Reserve am Mittwoch mitteilte. Das ist der höchste Wert seit 2007 – also vor Beginn der weltweiten Finanzkrise.

Damit hat der jüngste Bankenkollaps in den USA – der Zusammenbruch der First Republic Bank – die Fed nicht davon abgehalten, weiter leicht an der Zinsschraube zu drehen.

02.05.2023 - 21:43 [ Robert F. Kennedy Jr / Twitter ]

JP Morgan Chase now owns First Republic‘s sound assets. The FDIC owns its toxic assets. When big banks‘ gambles succeed, they profit. When they fail, we bail them out. Heads they win, tails you lose. #Kennedy24

Ultimately the problem stems from an over-financialized economy. Finance is supposed to serve production, not replace it. We need to reinvest in the productive base: infrastructure, labor, health, social, and natural capital. #Kennedy24

02.05.2023 - 21:29 [ theHill.com ]

First Republic fallout: Democrats fume as regulators bail out yet another failed bank

Sen. Elizabeth Warren (D-Mass.), a fierce critic of big banks, emphasized that the FDIC bailout of First Republic once again puts taxpayer money on the line. That’s after $25 billion was used from the Treasury’s Exchange Stabilization Fund to backstop a loan for the rescue of depositors at Silicon Valley Bank in March.

02.05.2023 - 16:58 [ New York Times ]

First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase

(May 1, 2023)

The government’s takeover and sale of First Republic comes roughly eight weeks after the government took control of Silicon Valley Bank and Signature Bank, whose failures sent a shock wave through the industry and raised fears that other regional banks were at risk of similar runs on deposits.

02.05.2023 - 16:48 [ Reuters ]

FDIC prepares to place First Republic under receivership

(April 29, 2023)

Separately, the Wall Street Journal reported on Friday that JPMorgan and PNC are vying to buy First Republic following its seizure by the government, which could come as soon as this weekend.

If the San Francisco-based lender falls into receivership, it would be the third U.S. bank to collapse since March. First Republic said this week its deposits had slumped by more than $100 billion in the first quarter.