NHK: First Republic Bank, an American bank, has gone bankrupt. It was the second largest bank failure in the history of the United States.
deposits and operations were taken over by JPMorgan Chase, a major bank. Bank deposits flowed out of more than $11 billion and ¥3.4 trillion in Japan yen in less than a month from the end of March to April 28. U.S. financial authorities wanted to prevent a chain of bank failures at all costs, so they were negotiating with banks that would bail out the bankruptcy.