Banking
JPMorgan and Bank of America asked for final bids for First Republic Bank
The US regulator reached out to some banks late on Thursday seeking indications of interest, including a proposed price and an estimated cost to the agency’s deposit insurance fund
The Federal Deposit Insurance Corp. has asked banks including JPMorgan Chase & Co., PNC Financial Services Group Inc., US Bancorp and Bank of America Corp. to submit final bids for First Republic Bank by Sunday after gauging initial interest earlier in the week.
The US regulator reached out to some banks late on Thursday seeking indications of interest, including a proposed price and an estimated cost to the agency’s deposit insurance fund.
Based on submissions ...