U.S. Treasury encouraged by First Republic resolution, says banking system remains sound

U.S. Treasury Department Encouraged by First Republic Bank Resolution

The U.S. Treasury Department is pleased to announce that the resolution of First Republic Bank was achieved with the least cost to the Deposit Insurance Fund. The department believes that the U.S. banking system remains sound and resilient, according to a Treasury spokesperson.

On Monday, U.S. regulators seized First Republic, the third major U.S. institution to fail in two months. JPMorgan Chase & Co agreed to take $173 billion of the bank’s loans and $30 billion of its securities, including $92 billion of deposits.

The spokesperson added, “Treasury is encouraged that this institution was resolved with the least cost to the Deposit Insurance Fund, and in a manner that protected all depositors.”

What’s Next for Fox News and Tucker Carlson?

After Fox News let go of their lead prime-time host, Tucker Carlson, many are speculating about his next move and the future of Fox News and journalism.

• Conor Fitzpatrick
• Seth Weathers
• Erin Elmore

Other News:

• Turkish delivery app Getir is in talks to take over German rival Flink in a key step toward consolidation in Europe’s…
• BitOasis, a Middle East-focused crypto exchange based in the United Arab Emirates, has received the first broker-dealer minimum viable…
• Sony Group Corp’s shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate’s annual…
• The European Union is likely to reach a political agreement this year that will pave the…