Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Breaking News

Breaking News

FDIC requests final First Republic offers from JPMorgan and PNC.

First Republic Bank, Photo Credit: Andreistanescu First Republic Bank, Photo Credit: Andreistanescu
First Republic Bank, Photo Credit: Andreistanescu First Republic Bank, Photo Credit: Andreistanescu

Listen to the article now

After measuring early interest earlier in the week, the U.S. Federal Deposit Insurance Corp has urged banks, including JPMorgan Chase & Co (JPM.N) and PNC Financial Services Group (PNC.N), to make final offers for First Republic Bank (FRC.N) by Sunday, Bloomberg News reported on Saturday.

According to the article, the banking regulator contacted banks late Thursday to gauge interest, pricing, and cost to the deposit insurance fund.

According to sources, FDIC invited at least two businesses to the next round of bidding after Friday’s submissions.

The FDIC plans to place First Republic under receivership after deciding the ailing regional lender’s condition has deteriorated, and there is no time to explore a private sector rescue.

After Silicon Valley Bank and Signature Bank, it would be the third U.S. bank to fail since March if the San Francisco institution goes into receivership.


Comment Template

You May Also Like

Business

Hims & Hers Health reported strong Q4 2024 revenue growth, surpassing expectations, but its stock fell 18% due to margin concerns and regulatory scrutiny...

Business

The Saver’s Credit helps low- and moderate-income earners reduce their tax bill while saving for retirement. Many eligible taxpayers miss out due to low...

Business

President Trump confirmed tariffs on Canada and Mexico will proceed as planned, emphasizing the need to protect U.S. industries. Despite concerns over trade relations...

Business

Nvidia's Q4 2025 earnings report, set for February 26, will highlight its AI market position amid competition from DeepSeek. Despite stock fluctuations and Blackwell...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok