JPMorgan's First Republic acquisition raises questions about bank size and risk.
TL;DR
Federal Reserve Chair Jerome Powell called the seizure of First Republic and its sale to JPMorgan Chase an "important step toward drawing a line under" the banking stress that started nearly two months ago. Powell also stated that the banking system is sound and resilient, and that the concerns about the regional banking system should now lessen. However, stocks of several regional banks came under pressure following Powell's remarks.
Topics:businessfinance#banking-system#federal-reserve#finance#first-republic#jpmorgan-chase#regional-banks
- Powell: First Republic seizure 'important' step to drawing 'line under' bank stress Yahoo Finance
- JPMorgan could be the banking sector's biggest hero — or biggest risk CNN
- Is JPMorgan Chase too big? NPR
- JPMorgan Steals First Republic! Sports News Now 24
- JPMorgan Gets Even Bigger with First Republic Bloomberg Television
Want the full story? Read the original reporting
Read on Yahoo Finance