JPMorgan and PNC, two of the country’s largest banks, are said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.
The Federal Reserve and the Federal Deposit Insurance Corp. reviewed what went wrong with oversight of two regional banks. A watchdog agency released its own take.
Among investors at least, First Republic’s troubles seem contained to the bank itself. The S&P 500 and an index of bank stocks were higher on Friday.