Bank Failures: Back With A Vengeance. What’s Next?
US banking regulators prepare to take action as private-sector rescue efforts falter
The US Federal Deposit Insurance Corporation (FDIC) is reportedly preparing to take over First Republic Bank as the troubled lender’s position has deteriorated beyond repair, with no more time for rescue efforts by the private sector. The FDIC, along with the Treasury Department and Federal Reserve, have organised meetings with financial companies to tr…
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