JPMorgan Chase & Co., the country’s biggest bank, became even bigger Monday with the announcement that it would acquire First Republic Bank.
First Republic is not the first bank to fail in recent weeks. First Citizens FCNCA last month assumed the deposits and loans of the shuttered Silicon Valley Bank, while Flagstar Bank, a subsidiary of New York Community Bankcorp Inc., agreed to assume most of the deposits and some of the loans from the failed Signature Bank. In Switzerland, UBS UBS is expected to close its controversial…
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