FRC seized by regulators

Assets of FRC, including deposits will be assumed by JPM.

Interesting that they were responsible for 79% of the borrowing from the FED discount window in recent weeks, so by far the most troubled bank since SVB went under.

I wonder how the big banks that gave FRC $30 billion will come out of this. Does JPM get money that BAC deposited?

https://www.cnbc.com/2023/05/01/first-republic-bank-failure.html