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Surveillance: JPMorgan To Acquire First Republic

Bloomberg Surveillance

00:00

The FDIC's Bailout of First Republic Bank

JPMorgan was able to do this at a lower cost to the government. The FDIC could have made much better terms, and that's ultimately why PNC or other bidders were not successful. At the end of the day, it's a better transaction for the system and the DIF.

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