JPMorgan Chase Did Not Assume First Republic Bank's Corporat...
$First Republic Bank(FRC.US$ JPMorgan Chase Did Not Assume First Republic Bank's Corporate Debt Or Preferred Stock. what does that mean?
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101518498 : They didn’t assume their debts, and will share the losses with FDIC on outstanding loans. So technically on bankruptcy terms, it means preferred stocks holders will not be compensated. Common stocks will also not be assumed as it has less priority than preferred stocks.