Gold and silver prices climbed on Monday following JPMorgan Chase & Co. winning an auction to take over troubled First Republic Bank's business and deposits...
Gold and silver prices climbed on Monday following JPMorgan Chase & Co. JPM winning an auction to take over troubled First Republic Bank’s business and deposits, as much of Europe celebrated the May Day holiday.
Price actionMarket drivers Precious metals prices are up, with silver seeing especially pronounced gains, following the government takeover and auction of First Republic Bank, which had teetered on the edge of collapse for weeks. While... Gold and silver prices climbed on Monday following JPMorgan Chase & Co. JPM winning an auction to take over troubled First Republic Bank’s business and deposits, as much of Europe celebrated the May Day holiday.
Price action Market drivers Precious metals prices are up, with silver seeing especially pronounced gains, following the government takeover and auction of First Republic Bank, which had teetered on the edge of collapse for weeks. While silver seemed to catch a strong bid on the news, gold was up only modestly as traders took a wait-and-see approach ahead of a meeting of top Federal Reserve policy makers, where the central bank’s leaders are widely expected to announce another 25-basis-point rate increase.“Gold traders are pausing ahead of a very important week for economic data releases. The marketplace is so far taking in stride the weekend news of the second-largest U.S.
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FDIC asks JPMorgan, PNC for final First Republic bids: BloombergThe U.S. Federal Deposit Insurance Corp has asked banks including JPMorgan Chase & Co and PNC Financial Services Group to submit final bids for First Republic Bank by Sunday after gauging their initial interest earlier in the week, Bloomberg News reported.
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US FDIC asks JPMorgan, PNC for final First Republic bids - Bloomberg News By Reuters*FDIC ASKS JPMORGAN, PNC FOR FINAL FIRST REPUBLIC BIDS DUE SUNDAY $JPM $PNC $FRC
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Big banks including JPMorgan Chase, Bank of America asked for final bids on First RepublicU.S. regulators have asked banks for their best and final takeover offers for First Republic by Sunday afternoon.
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First Republic’s crisis is not an isolated incident - suggests JPMorgan execIn an April 27 Bloomberg Interview, JP Morgan Asset Management CIO, Bob Michele said that the crisis currently faced by First Republic Bank, isn’t “limited” to the bank itself, but a wider banking problem. He noted “some sort of resolution' is vital.
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PNC, JPMorgan putting in final bids for First Republic Bank in FDIC auctionRegulators have been trying to arrange a sale of First Republic over the weekend, with roughly half a dozen banks bidding, in what is likely to be the third major U.S. bank to fail in two months.
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JPMorgan Chase Agrees To Acquire First Republic Bank’s Deposits After FDIC InterventionJPMorgan Chase has agreed to assume all deposits of First Republic bank as part of a deal inked with the FDIC.
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