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What the takeover of First Republic means for the bank's customers

Summary by Star Advertiser
First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have also contributed to its undoing. The bank’s business model left it susceptible to a sudden rise in interest rates.

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Bias Distribution

  • 58% of the sources are Center
58% Center
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cronica.com.mx broke the news in on Monday, May 1, 2023.
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