First Republic Bank to Be Sold to JPMorgan

First Republic Bank to Be Sold to JPMorgan

Assessment

Interactive Video

Business, Social Studies

University

Hard

Created by

Quizizz Content

FREE Resource

JPMorgan's bid to take over First Republic Bank has been accepted by the FDIC after the bank was seized by regulators. JPMorgan will manage $103 billion in deposits. An official statement from the controller is awaited. This marks the third bank takeover in recent months, following Silicon Valley and Signature Bank. The FDIC will incur a cost of $13 billion, and branches in eight states will reopen. A loss-sharing agreement is in place for single-family homes and commercial properties.

Read more

2 questions

Show all answers

1.

OPEN ENDED QUESTION

3 mins • 1 pt

How many banks have been seized in the last few months according to the text?

Evaluate responses using AI:

OFF

2.

OPEN ENDED QUESTION

3 mins • 1 pt

What type of agreement is mentioned in relation to loss sharing?

Evaluate responses using AI:

OFF