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JPMorgan assumes all deposits of First Republic Bank

( May 1, 2023, 13:24 GMT | Official Statement) -- MLex Summary: First Republic Bank was closed by the California Department of Financial Protection and Innovation, which appointed the US Federal Deposit Insurance Corporation as receiver. The FDIC is entering into a purchase and assumption agreement with JPMorgan Chase Bank to assume all of the deposits and substantially all of the assets of First Republic Bank.Statement follows in full. ...

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