Which of the following US Company purchased resources of First Republic Bank resulting in 3rd financial collapse?

May 3, 2023

(a) Axis Bank

(b) First Citizens

(d) American Express

Ans: JP Morgan Chase & Co

The assets of First Republic Bank have been bought by American multinational company JP Morgan Chase & Co. The US financial regulators seized First Republic Bank, a California-based financial institution. It resulted in the third major bank failure in the past 2 months. The deal has been made to save the economic turbulences. The outflows of 100$ were reported recently.