Rescue plan: A First Republic Bank branch in San Francisco. JPMorgan has the advantage of what chief executive officer Jamie Dimon calls its fortress balance sheet heading into the government-led attempt to sell First Republic. — Reuters
NEW YORK: One question looming over First Republic Bank’s emergency auction this weekend is whether giant bidder JPMorgan Chase & Co would become a rare exception to rules forbidding banks that hold more than 10% of US deposits from buying competitors.
An answer could come fast.
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