US bank First Republic’s assets will be taken over by JP Morgan after it became the third American lender to fail in two months.
JP Morgan has agreed a deal with regulators to acquire the "substantial majority" of First Republic’s assets, including $173 billion (£138bn) of loans.
The collapse follows the failures of Silicon Valley Bank and Signature Bank after investors withdrew funds.
Read more: https://trib.al/zqZw59t
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