JPMorgan Chase & Co will buy First Republic Bank after its was taken over by regulators, making the troubled regional lender the third major U.S. institution to fail since March this year. JPMorgan will “assume all deposits, including all uninsured deposits, and substantially all assets” of First Republic, the California Department of Financial Protection and … Read more
JPMorgan Chase & Co. posted a 52% jump in its first quarter profits, helped by higher interest rates, which allowed the bank to charge customers more for loans. The bank saw deposits grow noticeably, as business and customers flocked to the banking titan after the failure of Silicon Valley Bank and Signature Bank. With JPMorgan’s … Read more
Recently, the globe went through an international banking crisis. I covered the reasons behind this crisis situation in my previous article. In that context and especially in the context of the failure of SVB Bank in San Francisco, the 16th largest Bank in the US, the current policy outcome of a pause in rate hike … Read more
Regulators are singling out a trade on Deutsche Bank AG’s credit default swaps that they suspect fuelled a global selloff on Friday. It was a roughly ₹5 million ($5.4 million) bet on swaps tied to the German bank’s junior debt, according to people familiar with the matter, who said regulators have spoken to market participants … Read more
Pacific Western Bank, a unit of PacWest Bankcorp, said on Friday it had witnessed ‘elevated’ withdrawals following the collapses of Silicon Valley Bank and Signature Bank, but deposit movements had stabilized since Monday. The Los Angeles-based bank gave no details on the sum of the withdrawals but said they were mainly from its venture banking … Read more