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Search resuls for: "Chris Prentice Nupur Anand"


3 mentions found


☆ PNC, JPMorgan putting in final bids for First Republic Bank in FDIC auction
  + stars: | 2023-04-30 | by ( Chris Prentice Nupur Anand | Chris Prentice | Nupur Anand | ) www.reuters.com   time to read: +4 min
NEW YORK, April 30 (Reuters) - PNC Financial Services Group (PNC.N) and JPMorgan Chase & Co (JPM.N) were among banks set to submit final bids for First Republic Bank (FRC.N) by midday Sunday in an auction being run by U.S. regulators, sources familiar with the matter said. Citizens Financial Group Inc (CFG.N) was another bidder in the final phase of the process, according to one of the sources familiar with the matter. Guggenheim Securities is advising the FDIC, two sources familiar with the matter said on Saturday. Citizens Financial Group Inc (CFG.N) was another bidder vying for the bank, according to sources familiar with the matter on Saturday. But fearing further bank runs, regulators took the exceptional step of insuring all deposits at both Silicon Valley Bank and Signature.
☆ PNC, JPM putting in final bids for First Republic in FDIC auction
  + stars: | 2023-04-30 | by ( Chris Prentice Nupur Anand | Chris Prentice | Nupur Anand | ) www.reuters.com   time to read: +1 min
NEW YORK, April 30 (Reuters) - PNC Financial Services Group (PNC.N) and JPMorgan Chase & Co (JPM.N) were among banks set to submit final bids for First Republic Bank (FRC.N) by midday Sunday in an auction being run by U.S. regulators, sources familiar with the matter. FDIC was not immediately available for comment. The banks declined to comment. Citizens Financial Group Inc (CFG.N) was another bidder vying for the bank, according to sources familiar with the matter on Saturday. Reporting by Chris Prentice and Nupur Anand, writing by Megan Davies; Editing by Paritosh BansalOur Standards: The Thomson Reuters Trust Principles.
☆ Major US banks inject $30 bln to rescue First Republic Bank
  + stars: | 2023-03-16 | by ( Pete Schroeder Chris Prentice Nupur Anand | Pete Schroeder | Chris Prentice | ) www.reuters.com   time to read: +6 min
A round of financing on Sunday raised through JPMorgan had given First Republic access to $70 billion in funds. First Republic Bank's stock closed up 10% on news of the rescue but its shares fell 18% in after-market trading, after the bank said it would suspend its dividend. [1/2] A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. It said it would exercise an option to borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank, which confirmed it would provide liquidity to the bank against sufficient collateral. Since March 8, before last week's collapse of SVB, European banks have lost around $165 billion in market value, Refinitiv data shows.
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