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Banks in Turmoil

For JPMorgan, loss sharing sweetened its deal to buy First Republic Bank

by Sabri Ben-Achour

May 1, 2023

For one, help from the FDIC, which will absorb up to 80% of the losses coming from First Republic's residential and commercial loans.

The FDIC seized control of First Republic Bank over the weekend and auctioned it off. JPMorgan won that auction, and it’s paying a cool $10.6 billion for it.

Justin Sullivan/Getty Images

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