2023 banking crisis: First Republic Bank fails and is seized by the FDIC, which auctions off the banks assets to JPMorgan Chase for $10.7 billion

Quand

1 mai 2023

Type

Événement

Coordonnées

40.00° N, 100.00° W

Placé à : country named in the title of the event it links, United States.

2023 banking crisis: First Republic Bank fails and is seized by the FDIC, which auctions off the banks assets to JPMorgan Chase for $10.7 billion. First Republic becomes the fourth bank to fail since March and replaces Silicon Valley Bank as the second largest bank failure in US history.

Banking crisis beginning in March 2023

The 2023 United States banking crisis was a series of bank failures and bankruptcies that took place in early 2023, with the United States federal government ultimately intervening in several ways. Over the course of five days in March 2023, three small-to-mid size U.S. banks failed, triggering a sharp decline in global bank stock prices and swift response by regulators to prevent potential global contagion.

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