
First Republic Bail-Out Bidding Still Not Decided!
Sources familiar with the matter have revealed that PNC Financial Services Group, JPMorgan Chase, and Citizens Financial Group were among the banks that submitted their final bids for First Republic Bank in the auction held by U.S. regulators. It was anticipated that the Federal Deposit Insurance Corp (FDIC) would announce a deal on Sunday night and simultaneously declare the seizure of the lender. However, no announcement was available Monday morning European time.