First Republic Bank collapses amid rising fears of American banking crisis

A financial giant has stepped in to snap up the troubled American bank First Republic, in a deal brokered by regulators. All of First Republic’s 84 offices and remaining deposits are now under the control of JP Morgan. <br> <br>First Republic Bank has been on the brink in recent weeks, despite a $30-billion lifeline from several major financial institutions. Worried savers pulled more than $100 billion in deposits from the firm, causing its market value to collapse by 97%. <br> <br>------------------------------------------------------------------------------------------- <br>Freedom over censorship, truth over narrative. <br>Follow us on Facebook: https://www.facebook.com/RTnews <br>Follow us on Telegram: https://t.me/rtnews <br>Follow us on Twitter: https://twitter.com/RT_com