JP Morgan will buy most of First Republic, the American regional bank in difficulty. The speed with which the regulator has acted shows that it wants to avoid panic among depositors at all costs.
The San Francisco bank was under pressure since the failures of two other institutions with similar profiles: Silicon Valley Bank and Signature. In just two months, First Republic has seen its stock lose more than 97% on the stock market. This is the second largest bank failure in U.S. history after Washington Mutual in 2008.