Archive image. Jeff Chiu / AP
The banking turmoil
FDIC takes over First Republic – JP Morgan buys the remnants
The American banking authority FDIC has stepped in and taken control of the troubled First Republic Bank, the authority itself announced on Monday morning. In the same vein, the FDIC reveals that the big bank JP Morgan is buying First Republic's deposits of 103.9 billion dollars, together with the largest part of the assets of just under 230 billion dollars.
This is the US's second largest bank failure ever and the third major US bank to collapse in the last two months, several media outlets note.
In March, Silicon Valley Bank collapsed under similar circumstances. Then the FDIC sold most of the assets in the bank to First Citizens Bank and Trust.
The FDIC estimates the cost of First Republic's ditching to be around $13 billion, but the final amount will be determined when the agency's administration ends, the press release said.
The impeachment against Trump
Trump is asking for the rape trial to be overturned
Donald Trump's lawyers demand that the rape trial against the former president be annulled, writes Reuters. Last week, journalist E Jean Carroll testified in a civil lawsuit that Trump raped and defamed her.
Trump's lawyer Joe Tacopina has submitted a letter early Monday morning to the federal court in Manhattan in which he claims that the judge in the case has committed several errors. Among other things, he thinks that the court described the case incorrectly, which affected his ability to defend Trump.
He also believes he should have been allowed to ask Carroll more questions about why she didn't search for surveillance footage of the incident and why she didn't go to the police.
Trump has consistently denied the rape allegations.
Inga kommentarer:
Skicka en kommentar