Which of the following US Company purchased resources of First Republic Bank resulting in 3rd financial collapse?
(a) Axis Bank
(b) First Citizens
(c) JP Morgan Chase & Co
(d) American Express
Ans: JP Morgan Chase & Co
The assets of First Republic Bank have been bought by American multinational company JP Morgan Chase & Co. The US financial regulators seized First Republic Bank, a California-based financial institution. It resulted in the third major bank failure in the past 2 months. The deal has been made to save the economic turbulences. The outflows of 100$ were reported recently.
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