On Monday, the Federal Deposit Insurance Corporation (FDIC) announced that regulators had seized First Republic Bank, which JPMorgan is set to acquire now. The development comes as three other US banks, including Silvergate Bank, Signature Bank, and Silicon Valley Bank, have collapsed over the past few months.
The recent wave of banking collapses in the US has led some to compare the current situation to bank crises of the past. This has also raised concerns about whether the nation may be headed for a new widespread banking crisis, particularly given that US bank failures usually come in waves.
This post appeared first at 24/7 Wall St.