FDIC asks banks for final bids on First Republic by Sunday
The bidding process could pave the way for a tidier sale of First Republic than the drawn-out auctions that followed the failures of Silicon Valley Bank and Signature Bank last month.
The Federal Deposit Insurance Corp. has asked banks including JPMorgan Chase & Co. and PNC Financial Services Group Inc. to submit final bids for First Republic Bank by Sunday after gauging initial interest earlier in the week, according to people with knowledge of the matter.
The regulator r
Learn more about reprints and licensing for this article.
