[Slava]

Originally Posted by accord1999

After a few weeks reprieve, it looks like First Republic is being taken over by the FDIC. At least this time they made it to Friday so they have a weekend to fix things up.


https://www.reuters.com/business/fin...ce-2023-04-28/

That's generally what they try to do, is wait for the close of business on Friday and try to get things settled over the weekend. First Republic just didn't have the assets that they could pledge for the FDIC program, so they were stuck.