JP Morgan Chase steps in to buy beleaguered First Republic Bank, DW Business

US government have seized California s embattled First Republic Bank. A major Wall Street Bank, JP Morgan Chase, is stepping in to buy it. The San Franciscobased First Republic is the third midsize bank to fail in two months, after Silicon Valley Bank and Signature Bank. JP Morgan Chase Bank will assume all of First Republic s loans and most of its assets. The bank has a large amount of uninsured deposits and a high exposure to low interest rate loans. Subscribe: For more news go to: Follow DW on social media: Facebook: Twitter: Instagram: Twitch: Für Videos in deutscher Sprache besuchen Sie: , FirstRepublicBank, JPMorganChase, FDIC