JPMorgan, the nation's largest bank

JPMorgan, the nation's largest bank, agreed to assume $173 billion in assets, $30 billion in securities and all of First Republic's $92 billion in deposits. The Federal Deposit Insurance Corporation sweetened the deal by agreeing to share losses on certain residential and commercial loans, giving JPMorgan some protection if the assets go bad.

The fall of the $229 billion First Republic makes it the biggest casualty yet of the banking system turmoil that began in March, larger than either Silicon Valley Bank or Signature Bank. Seattle's Washington Mutual, which went under with $307 billion in assets in September 2008, is still the largest bank failure in US history.

Even though JPMorgan agreed to protect all of First Republic's depositors, the seizure does add more of a burden to the FDIC's Deposit Insurance Fund, which is used to absorb losses when banks go down.

The FDIC estimates the First Republic failure will cost it $13 billion, on top of more than $22 billion from the two other failures in March. Taxpayer money does not support the fund; instead the FDIC recoups its costs with an assessment paid for by banks.

As part of the First Republic agreement JPMorgan will make a cash payment of $10.6 billion to the FDIC, and the FDIC will also provide the bank with $50 billion in loans. JPMorgan said it will recognize a one-time, post-tax gain of roughly $2.6 billion. It anticipates $2 billion in post-tax restructuring costs over the next 18 months.

所有跟帖： 

• 沒說股東和債權人獲得什麽 -_學無止境- ♂ (0 bytes) () 05/01/2023 postreply 08:01:01

• Eggs -BigMountain6- ♂ (30 bytes) () 05/01/2023 postreply 08:05:56

• 看來現在投資者像我旅遊時捕的螃蟹，在籠子裏還緊緊咬著爛雞腿，馬上就要被蒸了，看到吃的視死如歸 -_學無止境- ♂ (90 bytes) () 05/01/2023 postreply 08:25:47

• 資產和股票可以脫勾的。股票清零後滿血複活的公司比比皆是。不過賭桌上的賭徒一旦輸紅眼確實誰也勸不了。 -lanyin0314- ♂ (0 bytes) () 05/01/2023 postreply 08:37:34

• 清零了，以後再起來和前股東沒關係了， 像一個人離婚再結婚，和前老公沒關係， -_學無止境- ♂ (0 bytes) () 05/01/2023 postreply 08:44:34