JP Morgan set to take over collapsed US bank First Republic

US bank First Republic's assets will be taken over by JP Morgan after it became the third American lender to fail in two months.

JP Morgan has agreed a deal with regulators to acquire the "substantial majority" of First Republic's assets, including $173bn (£138bn) of loans.

The collapse follows the failures of Silicon Valley Bank and Signature Bank after investors withdrew funds.

Read more: https://trib.al/zqZw59t

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