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Regulators are racing to find a buyer for First Republic after the recent collapse of two US banks.
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Unlike the collapse of Silicon Valley Bank, it would seem that the Federal Reserve are ahead of the curve in this instance in looking to find a buyer for First Republic, the 14th largest bank in the US.
According to the article, Federal Deposit Insurance Corporation (FDIC), a US financial regulator, have asked six banks to bid for the stricken bank and in doing so, shore up the US banking system.